There are three different types of trade agreements. The first is a unilateral trade agreement if one country wants certain restrictions to be enforced, but no other country wants them to be imposed. It also allows countries to reduce the amount of trade restrictions. It is also something that is not common and could affect a country. “Trade agreements.” Merriam-Webster.com Dictionary, Merriam-Webster, www.merriam-webster.com/dictionary/trade%20Ament. Access 30 Nov 2020. However, the WTO has expressed some concerns. According to Pascal Lamy, Director-General of the WTO, the dissemination of regional trade agreements (RTA) is “… is the concern of inconsistency, confusion, exponentially increasing costs for businesses, unpredictability and even injustice in trade relations.  The WTO is how typical trade agreements (called preferential or regional agreements by the WTO) are to some extent useful, but it is much more advantageous to focus on global agreements under the WTO, such as the ongoing Doha Round negotiations. What prompted you to seek the trade agreement? Please tell us where you read or heard it (including the quote, if possible).
The North American Free Trade Agreement (NAFTA) on January 1, 1989, when it came into force, was between the United States, Canada and Mexico that agreement was to remove customs barriers between the various countries. Regional trade agreements are very difficult to conclude and claim when countries are more diverse. The logic of formal trade agreements is that they reduce penalties for deviation from the rules set out in the agreement.  As a result, trade agreements make misunderstandings less likely and create confidence on both sides in the sanction of fraud; this increases the likelihood of long-term cooperation.  An international organization such as the IMF can further encourage cooperation by monitoring compliance with agreements and reporting violations.  It may be necessary to monitor international agencies to detect non-tariff barriers that are disguised attempts to create barriers to trade.  A trade agreement (also known as a trade pact) is a large-scale tax, customs and trade agreement, which often includes investment guarantees.