Turkey has concluded bilateral and multilateral agreements with: 16. Feinberg RE. The Political Economy of U.S. Free Trade Agreements. Global econ. (2003) 26:1019–40. doi: 10.1111/1467-9701.00561 One of its stated objectives was to contribute “to the harmonious development and expansion of world trade” by removing barriers to bilateral trade. Bilateral free trade agreements (FTA) are concluded between two countries. Around the world, many governments have signed, are negotiating or are considering new bilateral free trade and investment agreements. These binding international agreements severely restrict future governments in their policy options and help secure existing economic reforms that may have been imposed by the IMF, World Bank or Asian Development Bank or pursued by national governments of their own free will. Like other free trade and investment agreements, they strive to lift all trade restrictions.

Bilateral agreements may take some time. Thus, it took three years before the Customer Cooperation Agreement between the European UnionZoneAll European Union countries that have adopted the euro as their national currency form a geographical and economic region known as the euro area. The euro area is one of the largest economic regions in the world. Nineteen of Europe`s 28 countries are using the euro and New Zealand to take effect. Given several factors that can affect a bilateral agreement, there is no normal time frame for an agreement to enter into force. In October 2014, the United States and Brazil settled a long-standing cotton dispute at the World Trade Organization (WTO). Brazil terminated the case and waived its right to take counter-measures against U.S. trade or other proceedings in the dispute.

Some bilateral trade agreements cover a narrow range of trade products, such as the bilateral textile trade agreement between the United States and Cambodia, which was extended for three years in January 2002. A complete list of the trade agreements analysed can be found in Table 1 (Annex). 3. Carràre C. Examination of the impact of regional trade agreements on trade flows with an appropriate specification of the gravity model. . . .