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Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other.
The 15 member countries account for about 30% of the world's population (2.2 billion people) and 30% of global GDP ($29.7 trillion), making it the largest trade bloc in history. [3] Signed in November 2020, RCEP is the first free trade agreement among the largest economies in Asia, including China, Indonesia, Japan, and South Korea. [4]
Global markets are rallying as Asia-Pacific nations formed the world's largest free-trade bloc on Sunday, lifting global optimism.The Dow futures are trading higher by 0.86%, and the S&P500 ...
The African Continental Free Trade Area (AfCFTA) [11] is a free trade area encompassing most of Africa. [12] [13] [14] It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, [15] and the largest in population and geographic ...
Fifteen Asia-Pacific economies formed the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under ...
Free trade agreements or free trade areas are listed as follows: List of multilateral free trade agreements; List of bilateral free trade agreements; See also.
A multilateral free trade agreement is between several countries all treated equally, and creates a free trade area.Every customs union, common market, economic union, customs and monetary union and economic and monetary union is also a free trade area, and are not included below.