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A Free-trade area has a specific goal of eliminating duties on partner trade (while maintaining existing tariffs on third country imports). Many FTAs include other aspects of trade as well. Comprehensive economic partnership agreements (a phrase coming into vogue recently with the CEPAs of India and other countries) can include tariff elimination but usually are less ambitious in that regard. However, CEPAs are broader and include encouragements to investment, support of private and public sector cooperation and the establishment of a framework for later specific liberalization actions.

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