Free trade area and Preferential trading area - difference

What is the difference between Free trade area FTA and Preferential trading area PTA ? Are there any differences or is it the same ?
give a positive ratinggive a negative rating
25 Oct 2019 at 11:50 AM
Free trade area is not the same as Preferential trading area. There are similarities, but also an essential differences between both.

FTA is a trading bloc, whose members have signed a free trade agreement, to reduce trade barriers between them.

PTA is a trading bloc, giving preferential access to specific products from the participating members. It is done by reducing of the tariffs, but not by abolishing them completely.
give a positive ratinggive a negative rating
27 Oct 2019 at 06:04 PM
Share on FacebookShare on TwitterShare on LinkedInSend email
Find us on Facebook
2023 AnswerTabsTermsContact us
How would you rate your experience with AnswerTabs ?
Very badVery good
Thank you for your feedback.