ANGLO IRISH FREE TRADE AGREEMENT Meaning and
Definition
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The Anglo Irish Free Trade Agreement refers to a bilateral trade agreement signed between the United Kingdom and Ireland in 1965. With a length of approximately 200 words, the dictionary definition of the Anglo Irish Free Trade Agreement can be presented as follows:
The Anglo Irish Free Trade Agreement was a landmark trade agreement signed between the United Kingdom (UK) and the Republic of Ireland (RoI) in 1965. This bilateral agreement aimed to foster free trade and remove barriers to commerce between the two countries. The agreement was a significant development in the economic relationship between the UK and RoI, particularly as it came at a time when trade restrictions were prevalent globally.
Under the Anglo Irish Free Trade Agreement, both countries agreed to eliminate duties and quota restrictions on goods traded between them. This meant that most goods could be imported and exported without facing significant tariffs or limitations, thereby enhancing economic cooperation and promoting mutual prosperity. Additionally, the agreement also addressed issues related to the movement of goods, such as customs procedures, documentation requirements, and sanitary/phytosanitary regulations.
The Anglo Irish Free Trade Agreement not only fostered trade between the UK and RoI but also helped to cement a closer economic relationship. It provided a solid foundation for future collaboration and was regarded as a crucial step towards the eventual creation of the European Single Market.
In conclusion, the Anglo Irish Free Trade Agreement of 1965 was a pivotal milestone in the trade relations between the United Kingdom and the Republic of Ireland, facilitating the elimination of trade barriers and promoting economic integration between the two nations.
