What is the purpose of a "Free Trade Agreement" (FTA)?

A Free Trade Agreement (FTA) is designed to facilitate trade between participating countries by reducing or eliminating tariffs and other trade barriers. The primary goal of an FTA is to enhance economic cooperation and promote trade flows by making it easier and less costly for countries to engage in international trade. By lowering tariffs, reducing import quotas, and minimizing regulatory obstacles, FTAs encourage businesses in member countries to export and import goods and services more freely.

This increased trade can lead to a variety of economic benefits, such as greater market access, increased competition, improved efficiency, and lower prices for consumers. FTAs also aim to foster better relationships between countries and can serve as a way to strengthen diplomatic ties.

In contrast, options that suggest restricting trade, eliminating all trade regulations, or increasing duties on imported goods do not align with the fundamental purpose of FTAs. Such actions would typically work against the objectives of economic integration and cooperation that FTAs seek to promote.