A free trade agreement is a contract between two or more countries that aims to eliminate or reduce trade barriers such as tariffs, quotas, and other restrictions to trade. It is a legal arrangement that allows countries to trade goods and services with each other under certain conditions without imposing any tariffs or taxes.

The primary objective of free trade agreements is to promote economic growth and development by increasing trade among countries. By reducing or eliminating trade barriers, businesses can access new markets, export more goods and services, and benefit from increased competition, which can lead to lower prices for consumers.

Free trade agreements are beneficial for both the importing and exporting countries. For the exporting country, it provides access to markets with minimal trade barriers, resulting in increased sales and a boost in economic growth. On the other hand, for the importing country, it means lower prices for goods and services, increased efficiency in production, and more product choices.

In addition to the economic advantages, free trade agreements promote political and social cooperation between countries, creating a more stable and peaceful international environment. They can also help in establishing common standards and regulations for product safety, intellectual property, environmental protection, and labor laws.

However, free trade agreements can also have some disadvantages. Critics argue that they can lead to job losses in certain sectors, especially for industries that cannot compete with cheaper imports. It can also put pressure on developing countries to lower labor and environmental standards, which can harm workers and the environment in those countries.

In conclusion, a free trade agreement is a legal agreement between countries that aims to promote trade by eliminating or reducing trade barriers. While it can have both advantages and disadvantages, its primary goal is to promote economic growth and development while creating a more stable and peaceful international environment.