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Free trade agreements promote economic cooperation between nations from "summary" of Modern Law of International Trade by Ajendra Srivastava
Free trade agreements play a crucial role in fostering economic cooperation between nations. These agreements are designed to eliminate barriers to trade, such as tariffs and quotas, thereby promoting the exchange of goods and services across borders. By reducing trade barriers, free trade agreements create a more open and competitive global marketplace, which can lead to increased economic growth and prosperity for all parties involved. One of the key ways in which free trade agreements promote economic cooperation is by encouraging investment between countries. When trade barriers are removed, businesses are more likely to invest in foreign markets, leading to increased job creation and economic development. This, in turn, can help to strengthen the economic ties between nations and foster greater cooperation in other areas as well. Additionally, fr...
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