Free Trade Area

Free Trade Area
   The United States Congress in October 1984 authorized the president to negotiate a free-trade-area agreement with Israel. The idea was broached during a meeting between President Ronald Reagan and Prime Minister Yitzhak Shamir in November 1983, and subsequently, the president sought the requisite congressional approval to negotiate such an agreement. Under the arrangement, Israel became the first country in the world to enjoy a bilateral free-trade arrangement with the United States. It allows Israel access to its largest single trading partner on substantially improved terms, thereby aiding its export capability. Israel eventually will gain virtually complete and permanent duty-free access to one of the world's largest markets.

Historical Dictionary of Israel. .

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  • free trade area — UK US (also free trade area) noun [C] COMMERCE ► a group of countries that have agreed to import and export each other s goods without the usual taxes, limits, etc.: »Negotiations are under way with Mexico to create a free trade area. → Compare… …   Financial and business terms

  • free trade area — free trade area, = foreign trade zone. (Cf. ↑foreign trade zone) …   Useful english dictionary

  • Free trade area — This is article is on free international trade. For information on special economic zones within countries, see Free trade zone.Free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on… …   Wikipedia

  • Free Trade Area of the Americas —   [friː treɪd eərɪə əv ȓiː ə merɪkəz], die Amerikanische Freihandelszone (FTAA) …   Universal-Lexikon

  • Free Trade Area of the Americas — The Free Trade Area of the Americas (FTAA) (Spanish: Área de Libre Comercio de las Américas (ALCA), French: Zone de libre échange des Amériques (ZLÉA), Portuguese: Área de Livre Comércio das Américas (ALCA), Dutch: Vrijhandelszone van de Amerika… …   Wikipedia

  • Free Trade Area of the Asia-Pacific Region — The Free Trade Area of the Asia Pacific Region (FTAAP) is a proposed free trade area involving the member nations of the Asia Pacific Economic Cooperation (APEC) organization. Such a free trade area would involve the 21 member nations, including… …   Wikipedia

  • Free Trade Area of the Americas — Die (Gesamt )Amerikanische Freihandelszone (englisch: Free Trade Area of the Americas (FTAA); spanisch: Área de Libre Comercio de las Américas (ALCA), portugiesisch: Área de Livre Comércio das Américas (ALCA) sowie französisch: Zone de libre… …   Deutsch Wikipedia

  • Free Trade Area — A group of countries that invoke little or no price control in the form of tariffs or quotas between each other. Free trade areas allow the agreeing nations to focus on their competitive advantage and to freely trade for the goods they lack the… …   Investment dictionary

  • free trade area — /fri: treɪd ˌeəriə/ noun a group of countries practising free trade …   Dictionary of banking and finance

  • free trade area — noun An international region in which obstacles to unrestricted trade have been reduced to a minimum …   Wiktionary

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