Harmonizing Trade Practices: The Challenges and Opportunities of International Trade Agreements and Regulations
International trade agreements and regulations are pivotal in shaping global trade practices. These agreements are designed to facilitate the flow of goods, services, and investments between countries by reducing barriers such as tariffs, quotas, and differing standards.
Purpose of Trade Agreements Trade agreements aim to create a more predictable and free trading environment that enhances market access for exporters and offers consumers more choices at lower prices. They can be bilateral, involving two countries, or multilateral, involving several countries or regions.