REGIONAL FREE TRADE AREASRegional Trading Agreement • April 17th, 2020
■ Regional trading agreements refer to a treaty that is signed by two or more countries to encourage free movement of goods and services across the borders of its members. The agreement comes with internal rules that member countries follow among themselves. When dealing with non-member countries, there are external rules in place that the members adhere to Quotas, tariffs , and other forms of trade barriers restrict the transport of manufactured goods and services. Regional trading agreements help reduce or remove the barriers to trade..