free trade area


A group of countries that adopt free trade (zero tariffs and no other policy restrictions) on trade among themselves, while not necessarily changing the barriers that each member country has on trade with the countries outside the group.

Use free trade area in a sentence

It was a free trade area and I thought that was the best idea because it made things a lot easier and more fun.

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They were happy to be in a country that was a free trade area. If they were in a country with all those tariffs it would restrict trade too much.

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The two countries were in a win-win situation with the free trade area they had been able to set up, and collaborated to raise prices for outsiders.

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free trade agreement Latin American Free Trade Association