{"id":5152,"date":"2019-02-14T05:24:43","date_gmt":"2019-02-13T23:54:43","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5152"},"modified":"2019-02-16T11:45:47","modified_gmt":"2019-02-16T06:15:47","slug":"free-trade-zone","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/","title":{"rendered":"Free trade zone"},"content":{"rendered":"

A free trade zone formed by some countries through an agreement on taxes, customs duty and trade, can be called a trade bloc.
\nMany trade blocs are operating globally at present.
\nThe following are some examples for trade blocs.<\/strong>
\n\u2022 European Union
\n\u2022 ASEAN (Association of South East Asian Nations)
\n\u2022 SAARC (South Asian Association for Regional Co-operation)
\n\u2022 NAFTA (North American Free Trade Agreement)
\nVarious factors act against the upliftment of foreign trade.
\nThe following are major factors among them.
\n\u2022 Natural barriers<\/strong>
\nEg: Language differences
\nCultural differences
\n\u2022 Artificial barriers<\/strong>
\nEg: Customs duty
\nImport quotas
\nImport bans
\nExchange controls
\nCustoms rules and regulations<\/p>\n

Nations have formed various organizations to minimize the unfavorable impact of these
\nbarriers on foreign trade and to uplift it.
\nThe following are some examples of those organizations.<\/strong>
\n\u2022 World Trade Organization (WTO)
\n\u2022 International Bank for Rehabilitation and Development – World Bank (IBRD)
\n\u2022 International Monetary Fund (IMF)
\n\u2022 G8 Group.
\nA trade agreement can be simply explained as a compact between two or more
\ncountries to exchange commodities during a certain period.
\n\u2022 When two countries sign an agreement and exchange a certain amount of commodities
\nduring a certain period, they are called Bilateral Trade Agreements and when more than
\ntwo countries get together and agree to exchange commodities, they are called Multi
\nlateral Trade Agreements.
\n\u2022 There are advantages of trade agreements such as getting a fixed market, protection
\nfrom price fluctuations and development of international co-operation.
\n\u2022 At present, several countries get into agreements in order to take necessary action to
\nprotect their economies.
\nPresently, some new trends can be seen in foreign trade and the following are some of them.<\/strong>
\n\u2022 Expansion of foreign trade through e-commerce.
\n\u2022 Use of electronic payment methods.
\n\u2022 Establishment of trade blocs and trade partnerships.<\/p>\n","protected":false},"excerpt":{"rendered":"

A free trade zone formed by some countries through an agreement on taxes, customs duty and trade, can be called a trade bloc. Many trade blocs are operating globally at present. The following are some examples for trade blocs. \u2022 European Union \u2022 ASEAN (Association of South East Asian Nations) \u2022 SAARC (South Asian Association […]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10,2399],"tags":[],"class_list":["post-5152","post","type-post","status-publish","format-standard","hentry","category-business-studies","category-unit-11-en-business-studies"],"acf":[],"yoast_head":"\nFree trade zone - Learning & Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Free trade zone - Learning & Education Portal\" \/>\n<meta property=\"og:description\" content=\"A free trade zone formed by some countries through an agreement on taxes, customs duty and trade, can be called a trade bloc. Many trade blocs are operating globally at present. The following are some examples for trade blocs. \u2022 European Union \u2022 ASEAN (Association of South East Asian Nations) \u2022 SAARC (South Asian Association […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\" \/>\n<meta property=\"og:site_name\" content=\"Learning & Education Portal\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-13T23:54:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-16T06:15:47+00:00\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59\"},\"headline\":\"Free trade zone\",\"datePublished\":\"2019-02-13T23:54:43+00:00\",\"dateModified\":\"2019-02-16T06:15:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\"},\"wordCount\":288,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\"},\"articleSection\":[\"Business Studies\",\"Unit 11\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\",\"name\":\"Free trade zone - Learning & Education Portal\",\"isPartOf\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#website\"},\"datePublished\":\"2019-02-13T23:54:43+00:00\",\"dateModified\":\"2019-02-16T06:15:47+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/astan.lk\/al_virtualclassroom\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Free trade zone\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#website\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/\",\"name\":\"Learning & Education Portal\",\"description\":\"Astan\",\"publisher\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/astan.lk\/al_virtualclassroom\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#organization\",\"name\":\"Learning & Education Portal\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png\",\"contentUrl\":\"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png\",\"width\":340,\"height\":51,\"caption\":\"Learning & Education Portal\"},\"image\":{\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59\",\"name\":\"Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g\",\"caption\":\"Admin\"},\"sameAs\":[\"http:\/\/lk.preceptor1\"],\"url\":\"https:\/\/astan.lk\/al_virtualclassroom\/author\/astan-preceptor1\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Free trade zone - Learning & Education Portal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/","og_locale":"en_US","og_type":"article","og_title":"Free trade zone - Learning & Education Portal","og_description":"A free trade zone formed by some countries through an agreement on taxes, customs duty and trade, can be called a trade bloc. Many trade blocs are operating globally at present. The following are some examples for trade blocs. \u2022 European Union \u2022 ASEAN (Association of South East Asian Nations) \u2022 SAARC (South Asian Association […]","og_url":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/","og_site_name":"Learning & Education Portal","article_published_time":"2019-02-13T23:54:43+00:00","article_modified_time":"2019-02-16T06:15:47+00:00","author":"Admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#article","isPartOf":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/"},"author":{"name":"Admin","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59"},"headline":"Free trade zone","datePublished":"2019-02-13T23:54:43+00:00","dateModified":"2019-02-16T06:15:47+00:00","mainEntityOfPage":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/"},"wordCount":288,"commentCount":0,"publisher":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization"},"articleSection":["Business Studies","Unit 11"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/","url":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/","name":"Free trade zone - Learning & Education Portal","isPartOf":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#website"},"datePublished":"2019-02-13T23:54:43+00:00","dateModified":"2019-02-16T06:15:47+00:00","breadcrumb":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/astan.lk\/al_virtualclassroom\/free-trade-zone\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/astan.lk\/al_virtualclassroom\/"},{"@type":"ListItem","position":2,"name":"Free trade zone"}]},{"@type":"WebSite","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#website","url":"https:\/\/astan.lk\/al_virtualclassroom\/","name":"Learning & Education Portal","description":"Astan","publisher":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/astan.lk\/al_virtualclassroom\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#organization","name":"Learning & Education Portal","url":"https:\/\/astan.lk\/al_virtualclassroom\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/","url":"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png","contentUrl":"https:\/\/astan.lk\/al_virtualclassroom\/wp-content\/uploads\/2016\/11\/logo.png","width":340,"height":51,"caption":"Learning & Education Portal"},"image":{"@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/ffb0504e2cfb71518790b2fffd668c59","name":"Admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/astan.lk\/al_virtualclassroom\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f76e3d5e4e7064c8c128567b8ab726a35a2d3ac22ff5a60d673f87b8d4ee7333?s=96&d=mm&r=g","caption":"Admin"},"sameAs":["http:\/\/lk.preceptor1"],"url":"https:\/\/astan.lk\/al_virtualclassroom\/author\/astan-preceptor1\/"}]}},"_links":{"self":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/users\/842"}],"replies":[{"embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/comments?post=5152"}],"version-history":[{"count":1,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5152\/revisions"}],"predecessor-version":[{"id":5159,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/posts\/5152\/revisions\/5159"}],"wp:attachment":[{"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/media?parent=5152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/categories?post=5152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/astan.lk\/al_virtualclassroom\/wp-json\/wp\/v2\/tags?post=5152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}