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Nations sometimes form free-trade associations and establish areas where there are few, if any, export and import duties or other regulations that would act as barriers to trade among partners. These are called:

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When this is formed by nations to advance trade it is referred to as a Free Trade Area.

What is a free trade area?

  • A zone comprising of several nations where they don't charge each other much customs/ import duties.
  • Allows for easier trade.

The purpose of a free trade area is to encourage trade amongst members but it can lead to a few members dominating if they produce more than the other members.

Find out more on free trade areas at https://brainly.com/question/8515719.

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