1. International Trade
... as compared to outsiders e.g. EEC, NAFTA. Moreover PTAs are further divided into three categories. First is the Customs Union which eliminates internal trade barriers but imposes a common external barrier (CET) and second are the Free Trade Areas (FTA) which eliminate internal trade barriers but do not impose CET. Third is the Common Markets which allows free movement of factors of production and ... ...
- Word Count: 3042
- Approx Pages: 12
- Grade Level: Undergraduate