Cordial may refer to: 1  Liqueur, an alcoholic beverage. 2  Squash (drink) , a non-alcoholic fruit drink concentrate. 3  Elderflower cordial, a non-alcoholic beverage.4  Cordial (medicine) , a medicinal beverage.ordial may refer to: 1  Liqueur, an alcoholic beverage. 2  Squash (drink) , a non-alcoholic fruit drink concentrate. 3  Elderflower cordial, a non-alcoholic beverage. 4  Cordial (medicine) , a medicinal beverage.
A free-trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers â import quotas and tariffs â and to increase trade of goods and services with each other.
3: BENEFITS OF FREE TRADE TO THE COUNTRIES. One of the benefits of free trade is stated in the law of comparative advantage which says that a country should specialize in goods / services that it does best and trades it with other countries for its needs. This represents a true demand and supply of the market.