REPORT CAREER IN INTERNATIONAL BUSINESS FREE TRADE AGREEMENT overview of the free trade agreement (FTA)

TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION REPORT CAREER IN INTERNATIONAL BUSINESS FREE TRADE AGREEMENT INSTRUCTOR: LE DUC NHA MENTOR: NGUYEN THI TUONG VY GROUP : – CLASS: 20K70601 Student: VU NGUYEN BAO TRAN NGUYEN TRAN CHAU NGHI NGUYEN THAM PHUONG NGUYEN DINH VU HCM city , November 2020 0 FREE TRADE AGREEMENT List of member: STT FULL NAME Vu Nguyen Bao Tran Nguyen Dinh Vu Nguyen Tran Chau Nghi Nguyen Tham Phuong | Pa ge 0 FREE TRADE AGREEMENT Completement assessment: STT FULL NAME ASSIGNMENT COMPLETION LEVEL Vu Nguyen Bao Tran Nguyen Dinh Vu Nguyen Tran Chau Nghi Nguyen Tham Phuong | Pa ge 0 SIGN FREE TRADE AGREEMENTTHANKYOU Group would like to extend our warmest thanks to the teachers of Ton Duc Thang University and especially the teachers of the Business Administration Faculty for creating conditions for us to complete this presentation We learn in an environment full of good facilities, abundant resources to research and learn more useful knowledge With learning and teamwork, we create confidence, dynamism, and support each other in terms of knowledge and communication ability During the implementation process, our group received the help and dedicated teaching of the teacher Ms Nguyen Thi Tương Vy, Ms Nguyen Thi Hong Hanh, and Mr Le Duc Nha, Ton Duc Thang University We sincerely thank you for providing essential and rewarding expertise about the industry, giving you guidance on how to it, and providing a solid foundation for your presentations and reports During the implementation process, there are certainly many errors and limitations in the group We hope that after listening to the presentation and reading this report, you and the teachers will have practical suggestions, helping the group to improve our knowledge for better implementation in the following topics Sincerely thank | Pa ge 0 FREE TRADE AGREEMENT Lecturer comment | Pa ge 0 FREETRADEAGREEMENT Table of Content Introduction Chapter 1: Overview of the Free Trade Agreement (FTA) I II What is a Free Trade Agreement(FTA)? How a Free Trade Agreement Works: Chapter II: Free Trade Agreement in Vietnam 10 II I What it means to be Vietnam to participate in free trade agreements: 10 FTAs that Vietnam has participated in: 11 I II Chapter III: Vietnam and EVFTA 13 EVFTA: 13 Vietnam in EVFTA and other FTAs: 19 I II III Chapter IV: Students in the age of integration and Innovation: Integration trends of country in the coming time: 23 Opportunities and threats of students in the age of integration: 24 Knowledge, Skill, Attitude that IB students need: 25 Conclusion 27 Reference sources 28 | Pa ge 0 FREE TRADE AGREEMENT Introduction According to the trend of "Globalization," the relationship between countries is increasingly established more widely and closely than ever in many fields in the age of integration and development today Vietnam has also caught up with that trend, and our country has made changes to catch up with the current rapid changes in the world In the early 90s of the twentieth century, international economic integration became a trend of the times, taking place strongly in many aspects with the emergence of many economic and trade blocs in the world For a country with a low and backward economy like Vietnam at that time, international economic integration was the way to shorten the gap with other countries in the region and worldwide and promote the benefits Furthermore, find ways to overcome the limitations through learning from other countries' experiences Moreover, the 6th Congress started the period of national renewal; our Party advocated taking advantage of favorable economic and scientific and technical cooperation conditions, participating more widely in the assignment and integration international cooperation in "Council for mutual economic assistance and expansion with other countries." The Ninth Congress of the Party marked the first time our Party has focused on the policy of "proactive integration into the international and regional economy Accordingly, over the past years, international economic integration and participation in free trade agreements (FTAs) have always been set out in the resolutions and directives of the Party and Government Thereby, Vietnam has overcome many barriers, difficult regulations to join trade organizations such as ASEAN, WTO, Besides, our country has also signed many cooperation documents, an Agreement of which the most remarkable is the Free Trade Agreements (FTAs) EVFTA is an important agreement paving the way for Vietnamese goods to have closer access to this potential market Accordingly, to create more favorable conditions for import and export expansion, both sides will gradually remove tariff and non-tariff barriers according to the roadmap Currently, EVFTA is an exciting agreement because of its benefits, but besides that, there are also many challenges and difficulties ahead Moreover, because we are also very interested in this current issue, we decided to choose the topic: | Pa ge 0 " FREE TRADE AGREEMENT Free trade agreement: EVFTA- Vietnam with opportunities and challenges on the path of integration " The research paper includes the following contents: Chapter I: Overview of the Free Trade Agreement (FTAs) Chapter II: Free Trade Agreement in Vietnam Chương III: Vietnam and EVFTA Chapter IV: Students in the age of integration and innovation | Pa ge 0 FREE TRADE AGREEMENT Chapter I: Overview of the Free Trade Agreement (FTA) I What is a Free Trade Agreement (FTA)? Before we can learn about the Free Trade Agreement, we need to understand what Free Trade means and who came up with this hypothesis Free trade definition Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports or quotas on exports In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition In reality, however, governments with generally free-trade policies still impose some measures to control imports and exports1 In principle, free trade on the international level is no different from trade between neighbors, towns, or states However, it allows businesses in each https://www.thoughtco.com/free-trade-definition-theories-4571024 | Pa ge 0 FREE TRADE AGREEMENT country tofocus on producing andsellingthegoods that best use their resources In contrast, other businesses import goods that are scarce or unavailable domestically That mix of local production and foreign trade allows economies to experience faster growth while better meeting the needs of their consumers 2 Free trade agreement (FTA) definition: A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange II How a Free Trade Agreement Works: In the modern world, free trade policy is often implemented utilizing a formal and mutual agreement of the nations involved However, a free-trade policy may be the absence of any trade restrictions A government does not need to take specific action to promote free trade This hands-off stance is referred to as "laissez-faire trade" or trade liberalization Governments with free-trade policies or agreements in place not necessarily abandon all control of imports and exports or eliminate all protectionist policies In modern international trade, few free trade agreements (FTAs) result in completely free trade For example, a nation might allow free trade with another nation, with exceptions that forbid the import of specific drugs not approved by its regulators, or animals that have not been vaccinated, or processed foods that not meet its standards Alternatively, it might have policies in place that exempt specific products from tariff-free status to protect home producers from foreign competition in their industries https://www.investopedia.com/terms/f/free-trade.asp 10 | Pa ge 0 FREE TRADE AGREEMENT Trade and sustainable development: Both sides affirmed their commitment to pursuing sustainable development, including economic development, social development, and environmental protection On labor issues, as members of the International Labor Organization (ILO), the two sides pledged to respect, promote, and implement the 1998 ILO Declaration on Fundamental Principles and Rights in Labor This includes promoting the ratification and effective implementation of the Core ILO Conventions Besides, the two sides also agreed to strengthen cooperation through information and experience sharing mechanisms to promote the ratification and implementation of labor and environmental conventions in some areas such as gas change Post, biodiversity, sustainable forest management, and forest product trade Intellectual property, right: Commitment to intellectual property includes commitments to copyrights, inventions, lighting regimes, commitments related to pharmaceuticals and addresses, etc Basically, commitments on Vietnamese intellectual property are consistent with the law Some key features of the committed intellectual results are as follows: Regarding the addressing address, when the agreement comes into effect, Vietnam will protect over 160 destinations of the EU (including 28 members), and the EU will protect 39 of Vietnam's addresses Vietnam's email addresses are 18 | Pa g e 0 FREE TRADE AGREEMENT related to agriculture andproducts, enablingcertain Vietnamese agriculture types to build and format its effects in the EU market Regarding the label effect: The two sides are committed to applying a convenient and transparent registration procedure, including the tasks that require basic electricity on the trademark application that has been announced, and the trademark effect has been registered for publication This approach also allows for a valid link to the trademark that has been registered but not in real use within years Regarding enforcement: The Agreement has provisions on border control measures with exports suspected of infringing intellectual property rights Commitment on the national modern organization (MFN): Commitment to national optimization principles in this agreement ensures that organizations and individuals of the EU can benefit from the protection standard not only with Object Rights of Intellectual Property Owners Under the WTO Agreement on TradeRelated Aspects of Intellectual Property Rights (TRIPs), but also other objects of intellectual property rights in trade associations free trade that Vietnam participates in (such as CPTPP Agreement) The EVFTA also covers other aspects, including rules of origin, customs and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, sustainable development, cooperation, capacity building, and legalinstitutional issues How much will tariffs be eliminated? The elimination of tariff barriers will be at the highest level, benefiting both sides' experts After the trade deal takes effect, the EU will eliminate about 85.6% of import tariffs on Vietnamese goods, equivalent to 70.3% of Vietnam's revenue from exports to the EU Within seven years of the deal taking effect, the EU will remove 99.2% of tariffs, equivalent to 99.7% of Vietnam's revenue from exports to the EU Regarding the remaining 0.3% of Vietnam's export revenue, the EU pledged to provide Vietnam with a tariffrate quota, with the import tax rate set at 0% within the quota 19 | Pa g e 0 FREE TRADE AGREEMENT At entry into force 29.70% 70.30% Non-tariffs Tariffs After years 0.30% 99.70% Non-tariffs Tariffs For EU exports, Vietnam committed to truncate 48.5% of tariff lines immediately after the agreement comes into force (accounting for 64.5% of import revenue) After seven years, 91.8% of the tariff lines, equivalent to 97.1% of EU export revenue, will be removed by Vietnam After 10 years, about 98.3% of the tariff lines (accounting for 99.8% of import turnover) will be cut For the remaining 1.7% of the tariff lines, Vietnam will apply tariffrate quota under WTO commitments or a special roadmap to remove tariffs5 II Vietnam in EVFTA and other FTAs: https://en.nhandan.org.vn/evfta/ 20 | Pa g e 0 FREE TRADE AGREEMENT Strengths: Vietnam has a huge supply of agricultural produce, seafood which meet the standards of hygiene and safety The processing industry is competitive Textile, footwear, and wood manufacturing industry are supposed to be one of the main contributors to economic growth The EVFTA establishes an environment that will allow businesses in Vietnam to protect their brands more effectively and develop innovative ideas and highquality products Also, foreign investors will have greater trust in protecting their intellectual assets in Vietnam, which will encourage them to develop operations in the country and attract highquality investment with advanced technology from the EU in agriculture and renewable energy, pharmaceuticals, and machinery The EVFTA also creates opportunities for Vietnamese businesses to access the EU markets For example, the protection of geographical indications will help Vietnamese products increase their presence and sales in the European markets Weaknesses: Domestic enterprises have difficulty participating in global supply chains and the development of industrial industries due to their lack of ability to meet requirements, especially in product quality The knowledge and awareness of businesses about generation FTAs, in general, is still uncertain The domestic legal system is incompatible with the new FTAs The capacity and scale of the Vietnamese banking industry are still low The skills, professional skills of the workers, and technology standards are still low Opportunities: Firstly, after signing, Vietnam will attract more large corporations and potential investors from European countries to invest in the country, contributing to boosting the export production economy Mainly primitive and handcrafted products will be upgraded to a hightech processing stage, fine processing with higher added value In the long term, it will change the export structure of Vietnam Survey results show that, provided other factors are favorable, CPTPP and EVFTA can help Vietnam's GDP increase by 23.5 billion USD in 2020 and 33.5 billion USD in 2025 Exports will increase by 68 billion USD by 2025 21 | Pa g e 0 According FREE tothis TRADE study,Vietnam AGREEMENT maybenefitthe most among the countries participating in the agreement For the CPTPP, according to the World Bank's forecasts, by 2030, it will increase by 1.1% of GDP; In terms of productivity stimulation, Vietnam's economic growth by 2030 could increase to 3.5% Compared with the scenario without EVFTA, the simulation results show that the benefits for Vietnam are 3.2 billion USD in 2020 and 7.2 billion USD in 2030; In terms of national income, Vietnam's economy is expected to increase by 2.5% by 2020 and 4.6% by 2030 Secondly, compared to traditional FTAs, the new generation FTA eliminates most of the tariffs on goods between Vietnam and other countries, providing price competition opportunities for Vietnamese exporting enterprises with competitors (mainly in Asian countries) on the world market Example: In EVFTA, Vietnam and the EU committed to eliminating 99% of tariff lines The EU committed to abolishing 85.6%, Vietnam committed to abolishing 65% of tariff lines as soon as EVFTA takes effect This is extremely important when the partners in the new generation FTA are European countries, potential markets, and high profits for exporters compared to markets in Asian countries According to a World Bank study, when implementing the CPTPP, Vietnam's economic growth in 2030 is expected to increase by 3.5%, exports to 6.9%, and imports by 7.6% Thirdly, the newgeneration FTAs will help Vietnamese businesses have more opportunities to export to many different markets, reduce dependence on a particular market, and reduce trade and business risks when diversifying the export market Vietnam has better market access, with lower tax rates than Canada, Mexico, Chile, and Peru countries where Vietnam has not yet signed an FTA or bilateral trade agreement In particular, the CPTPP will contribute to promoting the export of goods to major markets such as Japan, Australia, Canada, and Mexico; at the same time, to attract foreign investment into industries and fields that Vietnam requires development The CPTPP is also open to other countries and territories to join, such as Korea, Taiwan, Indonesia, 22 | Pa g e 0 Thailand, FREE andthe TRADE Philippines AGREEMENT ThishelpsVietnam access a large market, supporting growth The impact of EVFTA on key subsectors and some industries where Vietnam directly benefits such as food processing, rice, fruits and vegetables, textiles, footwear, electronics, machinery, equipment, and some Service subsector (information, transportation ) Fourthly, the signing of more labor agreements helps Vietnamese employees always have their rights protected, improve standards, and preferential support conditions in the working environment for employees; while increasing income (estimated 45%) Fifth, environmental issues are also committed in the newgeneration FTAs, to ensure socioeconomic development goes hand in hand with environmental protection, conservation and balance of resources, and response to climate change, solving environmental pollution problems Accordingly, the countries participating in the FTA are forced to expedite environmental issues to achieve the committed environmental standards in export products Sixth, with very high standards of transparent governance and fair behavior, the "new generation" FTAs will help Vietnam consolidate and further improve the state management apparatus towards promoting reform key, strengthening the responsibility, discipline, and discipline of state employees, thereby supporting the process of renewing Vietnam's growth model and economic restructuring In particular, completing and strengthening IPR protection will open up opportunities to attract investment in fields with high knowledge content Seventhly, committing to perfecting the legal system will help its members to participate in improving the legal and business environment, in particular: protecting domestic and foreign investors from illegal interference; Creating a fair "playing field" for stateowned and private enterprises; Simplify administrative procedures in business; Facilitating recognition of product standards; Open the public procurement market for enterprises with investment capital from FTA members; Transparency of state agencies' operations; Protection of IPR of Vietnamese and foreign individuals and businesses Threats: Besides the advantages that FTAs bring, the serious difficulty from FTAs is to increase competition pressure for the entire national, regional, and global economy Socially, the increased competition when joining FTA can make some enterprises in developing countries First of all, stateowned enterprises, 23 | Pa g e 0 FREE TRADE AGREEMENT enterprises with outdated production technology fall into difficulties, followed by the possibility of unemployment in a part of the labor force For the legal system, the new generation FTAs require the participating members to review their country's entire legal system First of all, in trade, investment, and competition of state enterprises, labor, bidding, ecommerce, environment, dispute resolution In terms of institutions and policies, the newgeneration FTAs also require members to review their entire socioeconomic and cultural policy system in order to implement policy transparency; administrative reform; judicial reform; handling the relationship between international trade and issues that are considered "noncommercial" "social values" such as Trade and human rights, protecting workers in international trade, commerce, and the environment, commerce and culture, trade and security, ensuring food safety, commerce, sustainable development, and good governance; rights of foreign investors to sue the Government of the host country, policy transparency, internet freedom in the direction of shifting from "dialogue between the hearing impaired" to negotiating an agreement In general, the "new generation" FTAs have many potential consequences for the legal systems of the members and the social, cultural, and economic policies of these countries The high standards of transparent governance and the state apparatus's fair behavior will pose great challenges for state agencies Governments of the FTA members will have to implement the difficult policy when balancing international trade with issues that are considered "nontrade" The time to implement commitments in FTAs is also a major obstacle for Vietnam With normal FTAs, the total implementation time for all commitments is 10 years With newgeneration FTAs, Vietnam will have to fulfill its commitments in just 57 years Many terms will have to be implemented right after the agreement takes effect Many agreements will have to be implemented after 23 years With a deeper degree of liberalization, the deficient and weak sectors of Vietnam, such as Transport, IPR, human resource training, skilled technical labor will be hard to come by meeting practical requirements when diversifying investment from abroad with strong capital inflows into the country, and the high competition will put pressure on businesses The pressure of import tax cut will affect many industries that are protected in the country (automobile, sugar, gasoline ); Many traditional Vietnamese products have not been registered under the International Intellectual Property Law, leading to the risk of losing 24 | Pa g e 0 their brand FREE names, TRADE weakcompetition AGREEMENT inforeignmarkets; The level of human resources in the enterprises has not met the requirements for operating hightech machinery, and there is a shortage of labors who can speak a foreign language fluently 25 | Pa g e 0 FREE TRADE AGREEMENT Chapter IV: Students in the age of integration and innovation I Integration trends of country in the coming time: The Party's ninth Congress marked the first time our Party focused on the policy of "Proactive integration into the regional and international economy." Accordingly, over the past years, international economic integration and participation in free trade agreements (FTAs) have always been set out in Resolutions and Directives of the Party and Government In the Resolutions and Directives, the major guiding views and guidelines that the Party and the Government have thoroughly grasped on the process of international economic integration and joining FTAs are: First, economic integration is the focus Integration in other fields must facilitate economic integration, contribute to economic development, consolidate national defense, and ensure national security Preserve and promote the national cultural identity, promote cultural and social development; Integration in all fields must be implemented synchronously in an overall international integration strategy with a roadmap and steps suitable to the country's actual conditions and capacity Second, proactively integrating into the regional and international economy in the spirit of maximizing internal resources, improving the efficiency of international cooperation, ensuring independence, autonomy, and socialist orientation to protect interests National interest; national security, preserving national cultural identity, protecting the environment Third, accelerate the pace of reform of economic institutions, mechanisms, and policies in line with the Party and State's directions and orientations, actively build new partnerships, and participate in negotiations, promoting bilateral, regional, and multilateral economic cooperation 26 | Pa g e 0 Fourth, FREE develop TRADE andimplement AGREEMENT astrategy,join free trade areas with important economic trade partners in a master plan with a reasonable roadmap, following the country's interests and capabilities Proactively formulate and implement measures to protect the State, enterprises, and domestic consumers' legitimate interests Fifth, promote and deepen relations with partners, especially those of strategic importance to the country's development and security, and put the established relationship framework into, in essence, creating a mix of interests between our country and partners Sixth, proactively and actively participate in multilateral institutions, contributing to building a fair, democratic political and economic order, preventing wars and conflicts, consolidating peace, and promoting cooperation Mutually beneficial In particular, paying special attention to participating in building the ASEAN Community, promoting Vietnam's role in ASEAN, and mechanisms and forums played by ASEAN as a center to strengthen solidarity and increase linkages intrabloc, strengthen cooperation with ASEAN's dialogue partners, promote a coin So far, Vietnam has established free trade relations with most of the world's most important partner countries, creating a solid foundation for strengthening and promoting bilateral trade and investment exchanges As well as strengthening international economic integration in the region and globally II Opportunities and threats of students in the age of integration: Opportunities: Students can access the world's most advanced and new scientific knowledge system with a high content of information while also infusing the region and the world with practical teaching, training, and educational management formula The international integration allows the universities to update and learn the advanced training contents of other overseas schools combined with the enjoyment of international faculty qualifications Furthermore, diversity, diversity, and many dimensions, combined with the new sciences and training disciplines' characteristics 27 | Pa g e 0 Vietnamese FREE universities TRADE AGREEMENT can linkwithfamous international universities for academic and research backgrounds to strengthen the capacity of domestic universities further Create conditions for students to study and research on the spot without going abroad but still learning modern knowledge with economic efficiency The aid sponsors Vietnam's higher education by organizations, financial institutions, governments, nongovernmental organizations, nonprofit organizations, a series of projects, educational development programs, and several types of science and technology to improve facilities, equipment, and practice to help students have better learning opportunities The training program has been renewed in line with, standardized with the international program Vietnamese students can strive to win scholarships to study abroad with their own talents These opportunities have fostered government foreign affairs, enhanced cultural exchanges, dialogues, and exchanges this is also the soft power of the new era between peoples and nations Area Challenge: In the process of international integration today, students are facing many difficulties and challenges when: education, professional qualifications, economic knowledge, management are not high; Today's students' integration capacity and social skills have been raised significantly but have not yet met the requirements of the international integration process; There is still a part of students who are not aware of their roles and responsibilities, These are factors that have affected the quality of human resources of the country in the current international integration period Here is some of the current difficulties of students: One of the current difficulties is that the foreign language skills of Vietnamese students are still very poor to be able to integrate with the regional and world science The application of knowledge and practical skills of students in Vietnamese universities is quite limited compared to the need for international training, which is why it has greatly hindered the study of students 28 | Pa g e 0 FREE TRADE AGREEMENT In addition to lifeskills,Vietnamese students' communication skills have many points to note because they are surrounded by their parents, so they cannot be independent The educational program in Vietnam is only about theory and the practice is still very poor this is a big disadvantage for students, because in the world students are very focused on practice III Knowledge, Skill, Attitude that IB students need: Language, passionation International business is becoming a potential discipline in the context of integration Therefore, being good at a foreign language is one of the important qualities needed to study this field Besides, to maximize your capabilities and make a longterm connection with the profession, you need to have a passion for the business field Passion for business is the inspiration that helps you to try hard and tirelessly before the fluctuations and challenges in the reality of work Communication, ability to persuade others International Business also requires sophistication, flexibility, knowledge, as well as an extensive social experience This is an important basis to help you communicate well, handle conflicts quickly, and achieve the highest results in negotiating with partners and customers Creativity, confidence, and assertiveness People working in international business must be creative This is an important quality to help you build more development plans for your business Creativity does not appear but crystallizes a continuous process of learning, observing, and thinking Simultaneously, the confident and assertive attitude when handling work is a requirement that cannot be taken lightly The ability to collect and process information This is one of the most important qualities In the business environment, international trade, information is very diversified and always changing In order to be effectively processed, people working in this field must know and select 29 | Pa g e 0 FREE TRADE AGREEMENT key information of themarket togiveasolution: investment projects, cooperation, business development in the most timely and effective manner The qualities needed to well in International Business are not just limited to the above requirements To be successful in this industry, you also have to be someone who can withstand good pressure, like a competitive environment, knowledgeable about culture, history, people, law, Conclusion Through the recent report, we can see the strengths and weaknesses of Vietnam in the new era Besides, Vietnam also has great opportunities for integration and economic development, but there are also many challenges in the coming time At the same time, it will propose solutions and ways to improve and overcome challenges to bring the country on par with other developed countries From the above integration and development trends, we have also seen career prospects in the international business industry, draw experiences, lessons, and set development directions for students and current students at generation to take the lead in the future 30 | Pa g e 0 FREE TRADE AGREEMENT Reference sources Tổng hợp FTA Việt Nam tính đến tháng 11/2020 Vu Van Dien (2019) , Viet Nam hiệp định thương mại tự hệ mới, Tạp chí Tài Chính, Bài đăng Tạp chí Tài kỳ tháng 7/2019 Ban đạo 35 Công Thương (2020), Hội nhập kinh tế quốc tế, hướng đắn, sáng suốt mà Đảng lựa chọn cho phát triển kinh tế đất nước, Bộ Công Thương Việt Nam 31 | Pa g e 0 FREE TRADE AGREEMENT Hong Hanh,Thu Thuy,NVS(2019), What’sto gain from EUVietnam trade agreement, Nhân Dân online 32 | Pa g e 0 ... Chapter IV: Students in the age of integration and innovation | Pa ge 0 FREE TRADE AGREEMENT Chapter I: Overview of the Free Trade Agreement (FTA) I What is a Free Trade Agreement (FTA)? Before we... FREETRADEAGREEMENT Table of Content Introduction Chapter 1: Overview of the Free Trade Agreement (FTA) I II What is a Free Trade Agreement( FTA)? ... a Free Trade Agreement Works: In the modern world, free trade policy is often implemented utilizing a formal and mutual agreement of the nations involved However, a free- trade policy may be the