The Tripartite Free Trade Agreement

The launch of the TFTA has not been as publicized as the ongoing negotiations on the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP). With US$145 billion (1% of world exports) and US$211 billion (1.5% of global imports) in 2014, the new free trade area will not have a significant impact on the nature of the global trading system, at least in the short term. how the two partnerships are expected. Even if the negotiations are over and all outstanding issues are resolved, the effective implementation of the free trade agreement could still be a difficult, risky and time-consuming process. It will require extensive consultations with all relevant stakeholders and real political will from regional and national policy makers. In addition, the agreement must be ratified by the national parliaments of most Member States before entering into force. Given its importance, it is essential to make the public understand what NAFTA is, what it is not and what it promises when national parliaments vote on its ratification. The tripartite strategy aims to achieve economic growth by reducing trade barriers (tariff and non-tariff). The strategy includes the implementation of programmes for the design and introduction of the Tripartite Free Trade Area, the harmonization and implementation of trade and transport facilitation measures, and the design and implementation of trade-supporting infrastructure. Since ratification is a national process, this magic number can take time.