Kind Of Trade Agreement
The World Trade Organization is intervening on this point. This international body contributes to the negotiation and implementation of global trade agreements. In addition, some trade barriers are created for other non-economic reasons, such as. B national security or the desire to preserve or isolate local culture from foreign influences. It is therefore not surprising that successful trade agreements are very complicated. Some common features of trade agreements are reciprocity (1), (2) a most-favoured-nation clause and (3) domestic treatment of non-tariff barriers. On the other hand, some domestic industries benefit from it. They find new markets for their duty-free products. These sectors are growing and employing more labour. The North American Free Trade Agreement (NAFTA) of 1.