Deep and Comprehensive Free Trade Area
Okay kiddo, imagine you and your friend both have a bunch of toys, but you each only like certain kinds of toys. So you decide to make a deal – you'll give your friend all the toys they want that you don't really care about, and they'll give you all the toys you really like in return. That way, you both have more of the toys you really love!
Now imagine that all the grown-ups who run countries also have things they make and sell, like toys. Sometimes they want to trade with each other, but they might not like all the same things. A "comprehensive free trade area" is like the deal you made with your friend, but for grown-ups and their businesses.
Basically, it means that a bunch of countries get together and agree to stop charging extra taxes or making it hard for each other to trade goods and services. That way, businesses in each country can buy and sell to each other more easily, and everyone has more access to the things they want or need. It's kind of like everyone sharing their toys!
A "deep and comprehensive" free trade area means that the countries have agreed to do more than just stop adding extra taxes. They might agree to have similar rules about making products, or to let people move more easily between different countries to work or live. This makes it even easier for businesses to trade with each other and for people to take advantage of new opportunities.
So basically, it's like making a big agreement with a bunch of countries to try and make it easy for everyone to trade what they're good at making, and to help each other out when they need it. Easy-peasy, right?
Now imagine that all the grown-ups who run countries also have things they make and sell, like toys. Sometimes they want to trade with each other, but they might not like all the same things. A "comprehensive free trade area" is like the deal you made with your friend, but for grown-ups and their businesses.
Basically, it means that a bunch of countries get together and agree to stop charging extra taxes or making it hard for each other to trade goods and services. That way, businesses in each country can buy and sell to each other more easily, and everyone has more access to the things they want or need. It's kind of like everyone sharing their toys!
A "deep and comprehensive" free trade area means that the countries have agreed to do more than just stop adding extra taxes. They might agree to have similar rules about making products, or to let people move more easily between different countries to work or live. This makes it even easier for businesses to trade with each other and for people to take advantage of new opportunities.
So basically, it's like making a big agreement with a bunch of countries to try and make it easy for everyone to trade what they're good at making, and to help each other out when they need it. Easy-peasy, right?