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I need clearification of this phrase" FREE trade aggrements between 2 countries" what does it mean?
Would free trade aggrement between two countries benefit business professionals only or tourrist as well?What is the disadvantage of not having it at all?
What is the advantage of this aggrement?
Please I need someone to help me on this.Thank you in advance.
2 Answers
- All hatLv 71 decade agoFavorite Answer
I'm no expert on this, but I think the only barriers to free trade, meaning unencumbered trading, are tarrifs and prohibiting certain items. I think free trade means simply that you can sell to them with no tarrifs or restrictions. Advantages? Greater selection for consumers, larger markets for companies. Disadvantages? Companies that may have enjoyed an exclusivity in the market may now find themselves in competition - which is their loss but consumers' gain.
- 1 decade ago
The countries can trade certain products between them that will not have tarrifs and taxes (in most cases).
Now that you know what it is, the rest of it is your own opinion, so I cannot help you there.
