日別アーカイブ: 2022年3月4日

The World Trade Organization, or WTO, is the international organization that regulates trade among member nations. The WTO has a very important role in defining the terms of international trade and ensuring that trade among nations is fair and balanced.

One of the key tools that the WTO uses to regulate international trade is the free trade agreement, or FTA. A free trade agreement is a bilateral agreement between two countries that eliminates tariffs and other trade barriers between them. This allows for free trade between the two countries, which can help to increase trade, boost economic growth, and create jobs.

The WTO has a specific definition of what constitutes a free trade agreement. According to the WTO, a free trade agreement must meet certain criteria in order to be considered a true FTA:

1. The agreement must involve two or more countries.

2. The agreement must eliminate tariffs and other trade barriers between the countries involved.

3. The agreement must cover a substantial proportion of trade between the countries involved.

4. The agreement must have a clear set of rules and procedures for resolving disputes between the countries involved.

5. The agreement must be consistent with the WTO`s rules and principles.

FTAs have become increasingly popular in recent years, as more and more countries seek to expand international trade. However, they are not without their critics, who argue that FTAs can lead to job losses and other economic problems. Despite these concerns, the WTO remains a strong advocate for free trade and continues to work towards creating a more open and fair global trading system.