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FREE TRADE AREA

Statistics Directorate    
Definition:
A free trade area is a grouping of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members. The North American Free Trade Area (NAFTA) and the European Free Trade Association (EFTA) are examples of free trade areas.

Source Publication:
Glossary of Insurance Policy Terms, OECD, Centre for Co-operation with Non-Members, 1999.

Cross References:
Common market
Customs union
Economic union
Regional trading arrangement

Statistical Theme: International trade statistics

Created on Thursday, December 06, 2001

Last updated on Thursday, December 06, 2001