Abstract
What is free trade? From a layman’s perspective free trade is the reduction of barriers in the international trade of various goods and services. Encyclopedia Britannica defined ‘free trade’ also known laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs or subsidies. A free-trade policy does not imply, yet some countries ditch all control and taxation of imports and exports. Free trade agreements which are consist of economic cooperation agreements, regional and sub-regional trade agreements are agreements among governments between Presidents and Trade Ministers. How far this concept is applied depends on the jurisdictions and agreements between countries.
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