“No nation has ever been ruined by trade, even the most apparently disadvantageous” (Benjamin Franklin, 1774)The Benefits of Free TradeFree trade is defined by the ability of people to engage in economic transactions or trade with people from other countries, without any restrictions imposed by the government, such as tariffs or any other type of discrimination. Free trade is represented today by examples such as the North American Free Trade Agreement (NAFTA, a trilateral trading bloc between Mexico, Canada and the United States of America) and also the European Economic Area (EEA, which includes members of the European Free Trade Association, such as Norway, Iceland and Liechtenstein, and also all members of the European Union, except Croatia), both establishing open markets with no or very few trade restrictions. Countries specializing in the production of raw materials in which they have a comparative advantage (the ability to produce a good at a lower opportunity cost than other countries) will strengthen their production, rather than focusing on sectors in which other countries have a comparative advantage. By specializing, countries can better manage and allocate their resources, as well as acquire resources more cheaply from other trading partners. of the products of our industry used in a way in which we have some advantage. (Smith 1776, p. 595) Adam Smith was one of the first to mention the concept of comparative advantage, but the “law of comparative advantage”, the one that underlies the benefits of the concept of free trade, was specified a few years later.. . in the middle of the paper... perhaps this agreement will represent a big step forward towards the end of the Doha Round, after years and years of unproductive debates.ConclusionLet's take a look at today's prosperous economies we can say with certainty development plans, decisions and open-minded policies throughout their modern history have played an important role in their progress, most of them have embraced the benefits of free trade after realizing its potential aid in growing their economic well-being. Openness towards other nations and also the constant search for international trade have paved the way for development, giving these economies an advantage in a world inclined towards globalization, even if not everyone agrees on this. The only issue we need to worry about right now is maintaining international free trade as a type of fair trade, from which both rich and developing countries will benefit..