Under RCEP, parts of all Member States would be treated equally, which could provide an incentive for companies in RCEP countries to seek suppliers within the trading region. A free trade agreement (FTA) is a treaty between two or more countries to facilitate trade and remove barriers to trade. It aims to completely eliminate tariffs from day one or over a number of years. Generally speaking, trade diversion means that a free trade agreement would divert trade from more efficient suppliers outside the area to less efficient suppliers within territories. On the other hand, the creation of trade implies that a free trade agreement creates trade that might not otherwise have existed. In any case, the creation of businesses will improve the national well-being of a country.  A free trade agreement is an agreement between two or more countries in which countries agree, among other things, on certain obligations affecting trade in goods and services, as well as on the protection of investors and intellectual property rights. For the United States, the main objective of trade agreements is to reduce barriers to U.S. exports, protect U.S. competing interests abroad, and improve the rule of law in FTA partner countries. Free trade agreements help create an open and competitive international market.
While China already has a number of bilateral trade agreements, this is the first time it has signed a regional multilateral trade pact. The Market Access Map was developed by the International Trade Centre (ITC) to facilitate market access for businesses, governments and researchers. The database, which is visible via the online market access map tool, contains information on tariff and non-tariff barriers to trade in all active trade agreements, not limited to those that have been officially notified to the WTO. It also documents data related to non-preferential trade agreements (e.g. Β Generalized System of Preferences). Until 2019, market access Map provided downloadable links to the text agreements and their rules of origin.  The new version of Market Access Map, to be released this year, will provide direct web links to relevant contract sites and connect to other ITC tools, including the Rules of Origin Facilitator. It should become a versatile instrument to help businesses understand free trade agreements and qualify for the original requirements under these agreements.  Canada has signed a series of free trade agreements. One of the first was the North American Free Trade Agreement (NAFTA) in 1994. Some of Canada`s recent free trade agreements allow workers to move more freely between Canada and its partner countries, facilitate cross-border investment, or better protect intellectual property. .