Preferential Trade Agreement (PTA)

Preferential Trade Agreement (PTA),

Definition of Preferential Trade Agreement (PTA):

  1. A trade pact between countries that reduces tariffs for certain products to the countries who sign the agreement. While the tariffs are not necessarily eliminated, they are lower than countries not party to the agreement. It is a form of economic integration. See also Trade and Investment Framework Agreement (TIFA), bilateral investment treaty, free trade area, customs union, common market, monetary union.

Meaning of Preferential Trade Agreement (PTA) & Preferential Trade Agreement (PTA) Definition