A Free Trade Agreement(FTA) is an agreement or treaty where two or more countries or economies agree to facilitate trade between the signatory members by completely or partially removing tariffs and non-tariff barriers (such as inspection) to trade of goods and services. Recent years have seen a dramatic rise in the number of free trade agreements, with South Korean taking a lead in signing the most FTAs in the past decade or so. Other major FTAs include the Regional Comprehensive Economic Partnership (RCEP), which includes China, Japan, South Korea, Australia, New Zealand, and the members of Association of South East Asian Nations (ASEAN). The 15 member economies account for about 30 percent of global GDP and the world’s population,making it the biggest trade agreement in history. Another significant free trade treaty is the “Trans-Pacific Partnership (TPP) entered in force in 2018. Some nations are members of both treaties.
In a more connected global economy, obtaining a free trade certificate can be a great boost in one’s career or business. Businesses of all sizes are operating on a global scale today. An American clothing retail store might have its clothes sourced from Bangladesh or Vietnam. A bakery in China may use flour imported from some European country. There are millions of small-mid-sized businesses selling products mostly sourced from Asia. Not to mention the multinationals who have operations around the world. It is foreseeable the future of business will be more dependent on expertise in international business. And a free trade certificate will certainly play an important role in bridging the gap.