The purpose of the Free Trade Agreement is to reduce trade barriers among signatory nations. The Free Trade Agreement will have reduced or no government tariffs, quotas, subsidies etc. You can read about the WTO – World Trade Organization – History, Functions, Conferences, Dispute Settlement in the given link.
The purpose of the Free Trade Agreement is to facilitate stronger trade and investment ties between countries. Trade barriers usually exist to protect local industries and markets.
Further readings:
- India and the WTO – An Overview of Latest Developments
- India – US Trade Relations: RSTV – Big Picture Analysis for UPSC IAS exam
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