Saturday, February 20, 2016


The countries across the world are looking for better opportunities in the trade and commerce sector in order to expand their market situations through the free trade agreements. The free trade agreements across the world are seeing a huge momentum over the last two decades and this has led to the improvement of the economies of several countries across the world, which benefits the domestic stakeholders, producers, consumers, manufacturers, dealers, retailers and several intermediaries in the developing world which is being governed largely by the policies of globalisation, liberalisation and privatisation. the trade policies across the world are now being linked to the economic growth and the strategies that lead to the reduction of poverty, unemployment and other down-side factors. 

The free trade agreements benefits the countries in several ways as it reduces and also in several cases eliminates the various trading barriers among the countries throughout the world. Free trade agreements allow the access of markets of the member nations and this leads to competition among the markets for better quality and quantity of the products to meet the demands and supplies of the consumers. The rapid growth in the world trade during the past two decades is seen as a result of the reduction in the trade restrictions and also by the transformation of the industrial plans and processes looking after the needs of the people. This gives wider access to the stakeholders within the trade unions which improves the living standards of the people within the economy. In the free trade agreements, there is non- discriminatory market access for all the member nations across the world. 

India has been a founding member of the GATT which served as the master player for the coming up of the WTO. Liberalisation has been the key and prime strategy adopted by the WTO. These free trade agreements are seen as the building blocks of globalisation by enabling the development of better links amongst the countries across the world. These agreements have proliferated throughout the world and the their scope has multiplied manifold. They have resulted in the expansion of the trade policies and the export markets throughout the world’s economies. 

The prioritising of the benefits achieved through the free trade agreements by meeting the targets, there is a balance that is achieved within the economic and the non-economic objectives, which present a picture of the commitment levels of the country in the trade policies and programmes. 

The recent trends of the fragmentation of the processes of manufacturing and production is because of the access of low cost markets, efficiency of the system and reliability within the trading patterns of the economies. This has led to the better growth in the trade and commerce sector throughout the world. The need of the hour is see an effective and even better implementation of th free trade agreements across the worlds’ economies.

This blog post is inspired by the blogging marathon hosted on IndiBlogger for the launch of the #Fantastico Zica from Tata Motors. You can apply for a test drive of the hatchback Zica today.

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