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.
International Trade Theory deals with the different models of international trade that have been developed to explain the diverse ideas of exchange of goods and services across the global boundaries.The theories of international trade have undergone a number of changes from time to time.The basic principle behind international trade is not very much different from that involved in the domestic trade.The primary objective of trade is to maximize the gains from trade for the parties engaged in the exchange of goods and services.he theories of international trade have undergone a number of changes from time to time. The basic principle behind international trade is not very much different from that involved in the domestic trade.