Free Trade Agreement (FTA) Essay - 1049 Words

FTA The trade is one of important part of economy. We cannot imagine without trade on economy. When we started trade we might have lots of problems among the countries, so we need to have duties and regulations for the problems. Fro the solve problem we established organizations and agreements. The all over the world the each country joined one or more the trade organizations. One biggest organization is WTO (World Trade Organization). The 136 countries joined to WTO right now. The principle of WTO is Most-Favoured-Nation Treatment: Treating other people equally under the WTO agreements. Countries cannot normally discriminate between their trading partners, Grant someone a special favour and you have to do the same for all†¦show more content†¦After the USA changed their position they propelled free trade agreement contracting. The USA is the center country of the world economy so the changing their position is enough to call the ripple effect to other countries. The second, the WTO is the multilateral trade system so they have so many members, so they took long time for the entente among nations. Consequently they couldn’t confront immediately to rapidity change in trade liberalization. They preferred the FTA instead WTO because the FTA is more ease to negotiation and it reached an agreement in shorter time. The third, on these days the economies run by each industry not by government anymore. The globalization of enterprises created transnational enterprises, so they want to remove most trade barriers or reduced tariff with strong-point nation instead trade with worldwide. These are why the countries more interested on the FTA. What kind of the economic effect for the FTA Contract? The FTA contract contained two big economic effects. It is the trade creation effects and the trade diversion effects. The FTA countries don’t have to be member of WTO so the FTA can contract between member and nonmember of WTO. This is caused that increase the trade goods and services; it called the trade creation effects. This is the logical basis theory of the why WTO permits the FTA. TheShow MoreRelatedA Free Trade Agreement ( Fta )1752 Words   |  8 Pages A free trade agreement (FTA) is a binding trade agreement signed two or more countries to agree on mutual granting of tariff preferences and reduction of non-tariff trade barriers in goods and services. In order to deepen the economic integration of the signatory countries, the FTA also incorporates issues of access to new markets, other regulatory issues related to trade, such as intellectual property, investment, competition policy, financial services, telecommunications, electronic commerce,Read MoreA Free Trade Agreement ( Fta ) After The G20 Summit2493 Words   |  10 Pages â€Å"Australia and China will sign a historical Free Trade Agreement (FTA) after the G20 Summit in Brisbane. 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