A free trade agreement (FTA) is an agreement between two or more countries that reduces or eliminates trade barriers between them. This can include tariffs, quotas, and other restrictions on the movement of goods and services. FTAs are designed to promote trade and economic growth between the member countries.

There are many different FTAs in force around the world. Some of the largest FTAs include:

FTAs can have a number of benefits for the member countries. They can:

However, FTAs can also have some negative consequences. For example, they can:

Overall, FTAs can have both positive and negative consequences for the member countries. The specific impact of an FTA will depend on a number of factors, such as the type of FTA, the size and level of development of the member countries, and the specific provisions of the trade agreement.