| 单词 | free-trade area |
| 释义 | free-trade area A group of countries with free trade between them, but retaining independent tariff systems on trade with non-members. There are several free trade areas, including the free-trade area (EFTA) and the North American Free Trade Agreement (NAFTA). The free trade arrangements must apply to a substantial proportion of trade, but some sectors, such as agricultural products or defence equipment, may be exempted from the free-trade provisions. To avoid the country with the lowest external tariff on any good being used as a route for imports to other members, tariff-free trade is confined to goods certified as being produced in member countries. A free-trade area is contrasted with a customs union, which has both free trade between members and a common external tariff. |
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