Which Country is Not a Member of the Free Trade Agreement?

Free trade agreements (FTAs) are agreements between countries that facilitate the exchange of goods and services, eliminate tariffs, and reduce non-tariff barriers to trade. These agreements aim to promote economic growth, increase international trade, and create opportunities for businesses. However, not all countries are part of the same FTAs. In this article, we will explore which country is not a member of the free trade agreement.

Before we get into which country, let`s review some of the notable FTAs and the countries included in these agreements. One of the largest FTAs is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP includes 11 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Another FTA is the ASEAN Free Trade Area (AFTA), which includes ten member countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Moving on to the European Union (EU), which has several FTAs, including the EU-Japan Economic Partnership Agreement, EU-Canada Comprehensive Economic and Trade Agreement (CETA), and the EU-Mexico Global Agreement. The EU also has a customs union with Turkey, which allows for free trade in goods. Additionally, the United States, Mexico, and Canada have the North American Free Trade Agreement (NAFTA), which is set to be replaced by the United States-Mexico-Canada Agreement (USMCA).

Now, let`s answer the question: which country is not a member of the free trade agreement? The answer is North Korea. North Korea is not part of any FTAs due to its isolationist policies and its history of conflict with other countries. The country does not have any bilateral or multilateral trade agreements, which limits its access to international markets and may contribute to its economic struggles.

In conclusion, free trade agreements allow countries to increase their trade and economic opportunities, but not all countries are part of the same FTAs. North Korea is not a member of any free trade agreement due to its isolationist policies. Understanding which countries are part of specific FTAs can help businesses and policymakers make informed decisions about international trade and investment.