Preferential trading area
- Preferential trading area
A Preferential Trade Area is a trading bloc which gives preferential access to certain products from the participating countries. This is done by reducing tariffs, but not by abolishing them completely. An example of a preferential trading area is one formed by the EU and the ACP countries. A preferential trade area (or PTA) can be established through a trade pact. It is the first stage of economic integration.
Examples of PTA:India and AfghanistanIndia and Mauritius
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