free trade area
Borderless commerce region
A free trade area is a group of countries that have agreed to eliminate tariffs and other trade barriers among themselves while maintaining independent trade policies with outside nations.
The European Free Trade Association and NAFTA are examples.
Unlike a customs union, member countries don't adopt a common external tariff: The free trade area allows goods to move between member states without duties.
- common marketIntegrated trading zone
- customs unionTariff-aligned trading partnership
- importObtain from overseas
- NAFTAContinental free-commerce bloc
- open bordersUnregulated international passage
border crossing · economic bloc · level playing field · market · tariff reduction · single market · duty · tariff · quota · economic union · goods · regional · EU · barrier · treaty · export · cross-border · member states
free trade areaprotectionism
Shielding local producers
tariff wall · trade embargo · autarky · economic nationalism · trade war
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