Free Trade Agreement Economy

The average import duty on industrial goods is 2%. Today, the free trade agreement is the most common form of regional integration. For example, 84% of regional trade agreements notified to the World Trade Organization (WTO) are FTA agreements. This trend can be explained very easily. To sign such an agreement, it is not necessary to harmonize national legislation or tariffs, the geographical proximity of the partners is also not necessary, etc.

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