Question

Is spain a member of any trade agreement ? When did it join ? What was the goal of the trade agreement? (e.g. tariff reduction goals) Has the trade agreement helped or hurt the economic development of the country?

Answer 1

Yes Spain has been a member of EU since 1986.The EU has a few trade agreements with other economic assosiations like European free trade assosiation.The goal of the trade agreement are : a) To remove all tariff on trade of industrial goods between members countries.

b) To aid the creation of a single west European market in order to boost trade..

The trade agreement ensures efficient flow of goods and services among among the member countries and ensures free and fair trade practices ,without any import quotas, tariffs,and common currency transactions like Euro. But there are certain disadvantages as the fault in the economic system of any economy will hamper the entire economic system of the region like it happened with Spain credit crunch hence if implemented and practiced well then these agreement will prove to be more fruitfull.