A trade agreement is a formal arrangement between two or more countries that outlines the rules and regulations for exchanging goods and services. These agreements aim to reduce barriers to trade, such as tariffs and quotas, making it easier and cheaper for countries to do business with each other.
Trade agreements can take various forms, including bilateral agreements between two countries or multilateral agreements involving multiple nations. They often cover a range of topics, including intellectual property, labor standards, and environmental protections, ensuring that trade benefits all parties involved while promoting fair competition.
