Case Studies: How Businesses Benefits from FTAs?
1. United States: The United States, through its embrace of FTAs, has witnessed remarkable transformations in its export landscape. The elimination of tariffs has emerged as a catalyst, driving price reductions and supporting a substantial surge in sales volumes. Noteworthy instances include a fourfold increase in exports to Chile and Morocco following the establishment of FTAs with these nations. The commitment to intellectual property protection within FTAs has become a foundation for the United States. This provision ensures a level playing field for American firms by safeguarding their innovations and trademarks. The result is an environment that encourages creativity, innovation, and fair competition. FTAs present unique opportunities for US exporters to actively participate in shaping product standards within partner countries. This engagement ensures conformity and permits American businesses to contribute to the development of standards that align with global best practices.
2. India: India, through its participation in FTAs, has become a breeding ground for opportunities across diverse sectors. Startups, textiles, tourism, and tech firms stand to gain significantly by accessing new markets and expanding their customer base. The removal of trade barriers serves as a catalyst, propelling Indian businesses towards improved market access and heightened export activities. The removal of trade barriers not only expands market access but also fuels increased exports. This dynamic shift empowers Indian businesses to tap into previously untapped markets, strengthening economic growth and amplifying the global footprint of Indian products and services.