Free Trade is the international buying and selling of goods or services, without limits on the amount of goods between countries or sub-national regions without tariffs, quotas or other restrictions being applied. The Free Trade promotes economic efficiency, specialisation, and overall economic growth by allowing countries to focus on producing the goods and services that is often influenced by a country's specific circumstances, political considerations, and societal values. (Refer to the FTA (Free-Trade Agreement))

Related Definitions in the Project: The Procurement