preferential trade agreement Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “preferential trade agreement” in the English Dictionary

"preferential trade agreement" in Business English

See all translations

preferential trade agreementnoun [C]

uk   us   ( abbreviation PTA) COMMERCE, TAX
an ​agreement between countries that ​reduces the ​normal taxes on some ​importedgoods: In the ​absence of a ​preferentialtradeagreement, ​trade with ​partners outside ​Europe relies on the ​contractualframeworkprovided by the WTO.
(Definition of preferential trade agreement from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of preferential trade agreement?
Add Cambridge dictionaries to your browser to your website
Word of the Day

carnival

(a special occasion or period of) public enjoyment and entertainment involving wearing unusual clothes, dancing, and eating and drinking, usually held in the streets of a city

Word of the Day

Chest pains and palpitations: talking about illness (2)
Chest pains and palpitations: talking about illness (2)
by Liz Walter,
February 03, 2016
My previous post (My leg hurts: Talking about illness (1)) presented some general vocabulary to use at the doctor’s. This one looks at some more specific areas of illness and explains some useful words and phrases that you may need to use or understand on a visit to the doctor’s. There are several

Read More 

awesomesauce noun
awesomesauce noun
February 01, 2016
slang the state of being extremely good or enjoyable or something or someone that is extremely good or enjoyable Recovering from the awesomesauce of another fab #Vidcon!!

Read More