Free Trade Agreement Definition in Hindi
A free trade agreement (FTA) is an agreement between two or more countries that eliminates or reduces barriers to trade between them. The agreement provides for the elimination or reduction of tariffs, as well as non-tariff barriers such as quotas, licensing requirements, technical barriers to trade, and other measures that restrict the flow of goods and services between the parties.
In Hindi, a free trade agreement is known as मुक्त व्यापार समझौता (Mukt Vyapar Samjhauta). This agreement is a pact between countries to create a free trade area where goods and services can move freely between the countries without any tariff or non-tariff barriers.
The main objective of a free trade agreement is to increase trade between the countries involved, creating a level playing field for all parties. The agreement encourages the exchange of goods and services, enhances economic interdependence, and stimulates economic growth and job creation.
Free trade agreements have several benefits for countries involved. They can help to reduce costs for businesses and consumers by eliminating tariffs and other barriers. This may lead to increased competition and lower prices. FTAs also provide access to new markets and expand opportunities for businesses to compete globally.
India has signed several free trade agreements with various countries including ASEAN, Japan, South Korea, and Singapore. These agreements have helped to promote economic growth and job creation, especially in the manufacturing and services sectors.
In conclusion, a free trade agreement is a beneficial pact between countries that promotes the exchange of goods and services without any tariff or non-tariff barriers. In Hindi, it is known as मुक्त व्यापार समझौता (Mukt Vyapar Samjhauta). The benefits of FTAs include increased trade, lower costs for businesses and consumers, and access to new markets. India has signed several FTAs with other countries, contributing to its economic growth and development.