Upgrade Free Trade Agreement

Upgrade Free Trade Agreement: The Need for Revising and Realigning Existing Policies

Free trade agreements (FTAs) have been one of the most significant driving forces of economic growth and global trade over the years. FTAs essentially aim to facilitate trade between countries by reducing trade barriers, such as tariffs and quotas. The idea behind FTAs – to create an open and free trading system – is commendable, but in practice, there are several issues that need to be addressed. The need for upgrading and revising existing FTAs has become critical in the current economic climate. In this article, we’ll explore the reasons why we need to upgrade free trade agreements and how the process can be improved.

Issues with Existing FTAs

Free trade agreements have been around for a long time, and their importance in global trade cannot be overstated. However, given the changing economic environment, several shortcomings of existing FTAs have come to the fore.

1. Outdated Policies

The world has changed drastically in the past few years. New technologies, products, and services have emerged, and the way we conduct trade has also evolved. Existing trade agreements often fail to capture these changes, leading to outdated policies that fail to address modern issues.

2. Lack of Transparency

The complexity of existing FTAs has made it difficult for businesses and individuals to understand their implications. This lack of transparency has given rise to concerns that these agreements favor large corporations over the public.

3. Inequality

FTAs often benefit developed economies, leaving developing economies at a disadvantage. This inequality has led to a growing discontent among the public, leading to protests and calls for reform.

Why we need to Upgrade FTAs

Given these challenges, it is imperative that we upgrade existing FTAs to better align with the current economic situation and address emerging issues.

1. Addressing Inequality

Upgraded FTAs can address concerns around economic inequality by providing increased access to trade for developing countries. This will lead to increased economic growth and a more equitable distribution of wealth.

2. Ensuring Transparency

With improved transparency and accountability measures, upgraded FTAs can allow for increased public scrutiny of trade agreements. This will lead to increased trust in the system and a better understanding of the implications of trade agreements.

3. Ensuring Modernization

Upgraded FTAs can ensure that they are in line with current economic trends and address emerging issues. This will lead to a more responsive and adaptive trade system that can keep up with changes in the global economy.

How we can Improve the Upgrading Process

The process of upgrading FTAs needs to be improved as well. Here are a few suggestions:

1. Increased Public Participation

It is important to ensure that the public is involved in the negotiation and implementation of trade agreements. This can be achieved through increased public participation in the form of consultations, public hearings, and open forums.

2. Better Communication

Communication is key to ensuring that the public understands the implications of FTAs. Governments need to engage in better communication efforts to help the public understand the trade agreements and their implications.

3. Holistic Approach

Upgrading FTAs requires a holistic approach that considers the interests of all stakeholders, including businesses, workers, consumers, and the environment.


In conclusion, upgrading free trade agreements is the need of the hour. The current system has several shortcomings that need to be addressed to ensure that trade agreements are more equitable, transparent, and responsive to changes in the global economy. By taking a more inclusive approach, we can develop trade agreements that benefit everyone, not just a select few. As copy editors experienced in SEO, we can help spread the word and raise awareness about the importance of upgrading existing FTAs to ensure a more efficient and equitable global trading system.