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Free trade agreements (FTA) between nations have proliferated in recent times, however they have not been...

Free trade agreements (FTA) between nations have proliferated in recent times, however they have not been universally well received. Discuss the major arguments for and against FTAs, focusing particularly on their effects on COMMERCIAL ENTERPRISES.

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Free Trade Agreements allow nations to interchange goods and services easily between them. This means reduced regulation, red-tape and overall economic growth at the first glance. However, the FTAs do have their own share of pros and cons.

Arguments for free trade:

  • Countries can specialize and gain from trade
  • There is a competitive spirit among countries •
  • Larger varieties of goods and services are available to people in all countries
  • There are improved terms with foreign countries

Arguments against free trade:

  • Harmful to less developed countries
  • People start favoring imported goods over domestic goods
  • Some producers might not be able to face competition
  • Some countries can also engage in dumping
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