Free-trade Zones Definition Quizlet

Click again to see term. This might be through relaxing protectionist barriers or even having a common currency.

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Free Trade Agreement FTA an agreement between two or more countries to remove or reduce trade barriers between them.

Free-trade zones definition quizlet. Examples of trading blocs include the EU NAFTA and ASEAN. A group of countries who have joined together to promote trade. Free trade area FTA An agreement made between countries where the countries agree to trade freely among themselves but are able to trade with countries outside the free trade area in whatever way they wish.

Free trade zones also known as an export processing zone area within a country where goods may be landed stored handled manufactured or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Match each key term with the correct definition. Free trade agreements are contracts between countries to allow access to their markets.

Merchandise including raw materials components and finished goods may be stored sold exhibited repacked assembled sorted graded cleaned or otherwise manipulated prior to. The FTZs usually consist of labor intensive manufacturing plants such as the maquiladoras. Free trade zone meaning.

Free trade in modern usage trade or commerce carried on without such restrictions as import duties export bounties domestic production subsidies trade quotas or import licenses. Tap card to see definition. Click card to see definition.

A zone which incorporates many of the functions of free trade zones in general such as storage repair packaging assembly or manufacturing general purpose free trade zone a zone established for a specific purpose and may be physically located outside the general purpose zone if the general purpose zone does not have room or suitable facilities to do the specified work the. They can open new markets increase GDP and invite new investments. International Chamber of commerce.

North American Free Trade Agreement NAFTA between the United States Canada and Mexico. Terms in this set 25 Multilateral Trade agreement. Protectionism in contrast attempts to protect.

A free trade agreement between more than two. Often these result in FREER as opposed to free trade. United Nations economic partnership of southeast Asian nations that was designed to accelerate economic development and promote political stability it later became a free-trade zone OPEC the active antiretroviral therapy that treats AIDS age of access organization established at the Bretton Woods Conference to.

Also known as a free trade zone an industrial area that operates according to different policies than the rest of the country in an attempt to attract foreign investment maquiladora a manufacturing plan often foreign-owned that receives duty-free imported materials assembles or processes them and then exports them. A special area within a country where foreign companies can import materials manufacture goods. An area of a country in which trade restrictions do not apply.

Free Trade Zone FTZ no tariffs between countries -- special zones in which all trade barriers between two countries are eliminated. FTAs can force local industries to become more competitive and rely less on government subsidies. Click card to see definition.

Tap again to see term. Free trade does not create more jobs but neither does protectionism4 Free trade may reduce jobs in inefficient industries but it frees up resources to create jobs in efficient industries boosting overall wages and improving living standards. Special commercial and industrial area in or near ports of entry where foreign and domestic merchandise may be brought in without being subject to payment of customs duties.

Free trade means jobs go overseas. Tap card to see definition. The basic argument for free trade is based on the economic theory of comparative advantage.

Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products but this is a dated definition as more and more free-trade zones focus on service industries such as software back-office operations research and financial services. Each region should concentrate on what it can produce most cheaply and efficiently and should.

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