The General Agreement on Tariffs and Trade (GATT) was established in 1948 as a legal agreement between many countries to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. GATT was the foundation for the establishment of the World Trade Organization (WTO) in 1995.
The North American Free Trade Agreement (NAFTA) was a treaty between Canada, Mexico, and the United States that came into force on January 1, 1994. It aimed to eliminate barriers to trade and investment between the three countries. In 2020, NAFTA was replaced by the United States-Mexico-Canada Agreement (USMCA).
The European Union (EU) Single Market is an integrated market that allows for the free movement of goods, services, capital, and labor within the EU. It was established by the Single European Act in 1986 and came into effect in 1993. The Single Market aims to boost trade and economic growth among EU member states.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade agreement among 11 countries in the Asia-Pacific region that came into force on December 30, 2018. It is a successor to the Trans-Pacific Partnership (TPP) after the United States withdrew from the latter in 2017.
The African Continental Free Trade Area (AfCFTA) is a trade agreement between African Union member states, aimed at creating a single continental market for goods and services, with free movement of businesspersons and investments. It officially commenced on January 1, 2021, and is the largest free trade area in the world by number of participating countries.
The ASEAN Free Trade Area (AFTA) is a trade bloc agreement by the Association of Southeast Asian Nations supporting local manufacturing in all ASEAN countries. The AFTA agreement was signed on January 28, 1992, and aims to reduce tariffs and non-tariff barriers among the ten ASEAN member countries.
The Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) is a free trade agreement between the United States and five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) as well as the Dominican Republic. It was signed on August 5, 2004, and aims to eliminate tariffs and trade barriers.
Mercosur is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina, Brazil, Paraguay, and Uruguay. Mercosur aims to promote free trade and the fluid movement of goods, people, and currency among member states.
The Comprehensive Economic and Trade Agreement (CETA) is a free trade agreement between Canada and the European Union. It provisionally came into force on September 21, 2017, and aims to reduce or eliminate tariffs and foster trade and investment between Canada and the EU.
The South Asian Free Trade Area (SAFTA) is an agreement reached on January 6, 2004, at the 12th SAARC summit in Islamabad, Pakistan. It created a free trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. SAFTA aims to reduce trade barriers and promote economic cooperation among South Asian countries.