Economic Objectives of Free Trade Agreements

Economic Objectives of Free Trade Agreements

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Free trade agreements (FTAs) are expected to enhance economic growth and prosperity by:

– increasing import and export flows;
– increasing investment flows (both outward and inward);
– enhancing productivity through a more efficient allocation of resources and greater openness to international competition.

62% of the UK’s GDP is comprised by trade

Free trade agreements and bilateral trade in goods and services.

The UK is a highly open economy with trade (imports and exports together) equal in value to 62% of GDP.(3)

(3). ONS UK Trade (March 2018), ONS GDP releases

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