TeachMeFinance.com - explain Preferential trade agreements
Preferential trade agreements The term 'Preferential trade agreements ' as it applies to the area of agriculture can be defined as ' Agreements among a group of countries to extend special trading advantages, usually tariff rates that are lower than most-favored nation rates. The U.S.ís Caribbean Basin Initiative and the EUís Lome Convention which provides preferential access for exports of former EU member countriesí colonies in Africa, the Pacific and the Caribbean are examples of preferential trade agreements'.
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