An FTA (Free Trade Agreement) is a deal between countries that reduces or removes import duty on goods that meet its rules of origin.
What does FTA stand for?
FTA stands for Free Trade Agreement. UK examples include the UK-EU Trade and Cooperation Agreement and CPTPP. The lower rate is called a preferential rate.
Who can use an FTA?
Any importer or exporter whose goods originate in a partner country and meet the agreement's rules of origin, backed by the right origin statement or proof.
How it relates to classification
Both the preferential rate and the product-specific rules of origin are set by commodity code. Classify wrongly and you may claim a preference you aren't entitled to, or miss a saving you are.
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