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English definition of “trade agreement”

trade agreement

noun [C]
 
 
ECONOMICS, COMMERCE
a formal agreement between two or more countries about improving trade with each other, for example by removing import taxes: They signed a trade agreement that scraps most of the tariffs on trade in manufactured goods between the two countries. a free trade agreement a bilateral trade agreement
→ See also preferential trade agreement
(Definition of trade agreement from the Cambridge Business English Dictionary © Cambridge University Press)
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