Current Affairs/ GK Updates 2024 : Today 14-February-2023

The Free Trade Agreement (FTA) is a topic of current affairs that has been widely discussed in recent times. FTAs are agreements between countries to facilitate trade by reducing or eliminating tariffs and other barriers. These agreements can have a significant impact on the economies of the participating countries.

FTAs have become increasingly important in a globalized world where trade plays a crucial role in economic development. Proponents argue that FTAs can boost economic growth, create jobs, and lower prices for consumers. However, opponents raise concerns about potential job losses, environmental degradation, and threats to national sovereignty.

Countries around the world have been negotiating and signing FTAs to promote economic cooperation and growth. The United States, for example, has been involved in various FTAs with countries such as Canada, Mexico, and Japan. The European Union has also entered into numerous FTAs with countries in Asia, Africa, and the Americas.

Overall, FTAs are a complex and contentious issue that requires careful consideration and analysis. As the global economy continues to evolve, it is likely that FTAs will play an increasingly important role in shaping international trade relations and economic policy.

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What’s Current Affairs/ GK Updates for Date 22nd November 2023?

What is Free Trade Agreement?
– A Free Trade Agreement is a pact between two or more countries to facilitate trade by reducing or eliminating tariffs, quotas, and other trade barriers.
– It aims to promote economic growth, create jobs, and increase market access for goods and services.
– Free Trade Agreements can also include provisions for intellectual property rights, labor standards, and environmental protection.
– Some examples of Free Trade Agreements include NAFTA (North American Free Trade Agreement) and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership).

Current Affairs/ GK Updates 2024 :आज 22nd November 2023 का करंट अफेयर्स/जीके अपडेट्स क्या हैं?

– एक नि:शुल्क व्यापार समझौता है जिसमें दो या दो से अधिक देशों के बीच व्यापार सेमबंध की सुविधा होती है।
– इसमें आर्थिक आयात और निर्यात पर किसी परिमिति को कम किया जाता है।
– ऐसे समझौते के माध्यम से वस्तुएं और सेवाएं बिना किसी प्रतिबंध के विश्वव्यापी बाजार में बेची जा सकती हैं।

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FAQ’s for Current Affairs/ GK Updates on Date : 22nd November 2023

What is a Free Trade Agreement?

A Free Trade Agreement is a pact between two or more nations to reduce or eliminate barriers to trade and investment.

How does a Free Trade Agreement benefit countries?

Free Trade Agreements promote economic growth, create jobs, increase exports, and lower prices for consumers.

What are some examples of Free Trade Agreements?

Examples of Free Trade Agreements include NAFTA (North American Free Trade Agreement), EU-South Korea FTA, and ASEAN Free Trade Area.

What are some challenges of Free Trade Agreements?

Challenges of Free Trade Agreements include disparity in economies, job displacement, and potential loss of sovereignty.

How does a country benefit from participating in Free Trade Agreements?

Participating in Free Trade Agreements can boost a country’s GDP, attract foreign investment, improve competitiveness, and enhance trade relations with other nations.

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