What is Free Trade Agreement?
A free trade agreement (FTA) is an agreement that secures investors and intellectual property rights while eliminating or minimizing trade barriers for products and services between two or more nations. India has actively participated in talks and negotiations for bilateral and regional free trade agreements with several countries as part of its economic strategy. These agreements will include a wide variety of topics, including the protection of intellectual property rights that may affect access to pharmaceutical treatments, regulations controlling the trade of services, tariff reductions affecting industry and agriculture, and digital concerns like data localization.
Geeky Takeaways:
- A free trade agreement protects investors and intellectual property rights while eliminating or minimizing trade barriers for products and services between two or more countries.
- India has actively participated in talks and negotiations for bilateral and regional free trade agreements with several countries as part of its economic strategy.
- FTAs cover a wide variety of topics, including the protection of intellectual property rights that may affect access to pharmaceutical treatments; regulations controlling the trade of services; tariff reductions affecting industry and agriculture; and digital concerns like data localization.
- FTAs also include subjects of facilitation, promotion, and protection of investments.
Table of Content
- How Free Trade Agreement Works?
- Free Trade Models
- Advantages of Free Trade
- Disadvantages of Free Trade
- Public Opinion on Free Trade
- Real-World Examples of Free Trade Agreements
- Case Studies: How Businesses Benefits from FTAs?
- What is Free Trade Area?
- What are Arguments Against Free Trade?
- Frequently Asked Questions (FAQs)