However, it is unlikely that trade in financial markets is completely free in this day and age. There are many supranational regulatory bodies for global financial markets, including the Basel Committee on Banking Supervision, the International Organization of the Financial Markets Authority (IOSCO) and the Committee on Capital Movements and Invisible Transactions. The creation of free trade zones is seen as an exception to the most privileged principle of the World Trade Organization (WTO), since the preferences of the parties to the exclusive granting of a free trade area go beyond their accession obligations. [9] Although GATT Article XXIV authorizes WTO members to establish free trade zones or to conclude interim agreements necessary for their establishment, there are several conditions relating to free trade zones or interim agreements leading to the creation of free trade zones. The use of certain trade agreements to reduce customs payments requires compliance with all complex rules. Companies must comply with them or risk fines and penalties. Companies must qualify their products and submit certificates of origin that regularly deal with complex lists of parts or lists of parts against the rules of origin of the trade agreements in question, whether it is a free trade agreement, a few or dozens. The time required can paralyze an exporter before trying to understand the potential profits. For example, a nation could allow free trade with another nation, with exceptions that prohibit the importation of certain drugs not authorized by its regulators, animals that have not been vaccinated, or processed foods that do not meet their standards.

Free trade agreements should stimulate trade between two or more countries. The six main advantages of strengthening international trade are that there is a difference in treatment between inputs of origin within and outside a free trade agreement with regard to the qualification of the criteria of origin. Inputs originating from a foreign party are normally considered to originate from the other party when they are included in the manufacturing process of that other party. Sometimes the production costs generated by one party are also considered to be those of another party. Preferential rules of origin generally provide for such a difference in treatment in determining accumulation or accumulation. This clause also explains the impact of a free trade agreement on the creation and diversion of trade, since a party to a free trade agreement is encouraged to use inputs from another party to allow its products to originate. [22] The trade agreement database provided by the ITC market access map. Given that hundreds of free trade agreements are currently in force and are being negotiated (approximately 800 according to the rules of the intermediary of origin, including non-reciprocal trade agreements), it is important for businesses and policy makers to keep their status in mind. There are a number of free trade agreement custodians available at national, regional or international level. Among the most important are the database on Latin American free trade agreements, established by the Latin American Integration Association (ALADI) [23], the database managed by the Asian Regional Integration Center (ARIC) with information agreements concluded by Asian countries[24] and the portal on free trade negotiations and agreements of the European Union. [25] Free and preferential trade agreements have a direct impact on a country`s economy by changing its trade and investment flows.