Trade And Economic Agreement

Trade and economic agreement in Global Commerce Policy

In this regard, a definition of this issue is as follows: TEA. The entries on trade policy are here. An imprecise term for an agreement between two or more countries, intended to cover part or all of their trade and economic relations. TEAs frequently have treaty status. The contents and structure of TEAs vary greatly. The simpler ones sometimes contain little more than assurances of most-favoured-nation treatment and best-endeavour undertakings to promote the expansion of trade and economic relations with the other party or parties or to consider sympathetically any trade issue that may arise between them. More complex TEAs can commit the partners to adopt trade facilitation measures, to engage in a regular structured dialogue and to work towards solutions to specific trade issues. TEAs do not normally contain free-trade provisions, but there would be no impediment to including a free-trade agreement in the framework of a TEA.[1]

Trade and economic agreementin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Trade and economic agreement” entry (OAS)

See Also