An Alternative Free Trade Agreement Scheme for Least Developed Countries: The Nano-Free Trade Territory (NFTT)
24 Pages Posted: 10 Dec 2013
Date Written: December 9, 2013
This paper is interested to introduce an alternative free trade agreement framework to promote the fast economic growth and the reduction of poverty in the least developed countries (LDC’s). This new scheme of free trade agreement is called “The Nano-Free Trade Territory (NFTT)”. The main objective of NFTT is to generate jobs and indirect technological transfer to any least developed country. Basically, this paper is divided into three sections are: The first section is a general review about regionalism, multilateralism, and free trade agreements schemes such as the Custom Union -CU - and Free Trade Agreements - FTA’s. The second section is evaluating the common problems hindering at the LDC’s. Finally, the third section explains about how NFTT works and its effects on LDC’s.
Keywords: regional integration, free trade, economic development, least developed countries
JEL Classification: F15
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