free trade agreement
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free trade agreement
An international treaty between two or more states in which the reduction of trade barriers such as tariffs and import restrictions is agreed upon in order to facilitate mutual trade.
Die Europäische Union hat ein neues Freihandelsabkommen mit Neuseeland unterzeichnet.
The European Union has signed a new free trade agreement with New Zealand.
This long word can easily be broken down into three parts: 'frei' (free) + 'Handel' (trade) + 'Abkommen' (agreement). So it is literally an agreement for free trade.
Die Verhandlungen über das neue Freihandelsabkommen dauerten mehrere Jahre.
The negotiations on the new free trade agreement took several years.
In connection with treaties, this noun is often used with verbs such as 'abschließen' (to conclude), 'unterzeichnen' (to sign), 'verhandeln' (to negotiate), or 'ratifizieren' (to ratify).
Die beiden Länder wollen ein Freihandelsabkommen abschließen.
The two countries want to conclude a free trade agreement.
To name the partners in the agreement, the preposition 'zwischen' (between, for two partners) or 'mit' (with, from the perspective of one partner) is typically used.
Es gibt ein Freihandelsabkommen zwischen Kanada und der EU.
There is a free trade agreement between Canada and the EU.
free trade
'das Freihandelsabkommen' and 'der Freihandel' both belong to international trade without strong barriers such as tariffs. The difference is: 'Freihandel' refers to the general system or principle, meaning free trade between countries. 'Freihandelsabkommen' refers to a specific agreement between countries that makes free trade easier or regulates it. The words can be confused because a free trade agreement often has free trade as its goal. When it is about an idea or an economic system, 'Freihandel' fits. When it is about a signed agreement between countries, 'Freihandelsabkommen' is more precise.
Die Regierung verhandelt ein neues Freihandelsabkommen mit mehreren Nachbarländern.
The government is negotiating a new free trade agreement with several neighboring countries.
Viele Unternehmen hoffen, dass der Freihandel den Export einfacher macht.
Many companies hope that free trade will make exporting easier.