An Economic Union is not a type of RTA. It is a higher level of economic integration where countries share a common currency, common economic policies, and a common market.

The primary objective of a Free Trade Area (FTA) is to eliminate tariffs and quotas among member countries, thereby facilitating the free flow of goods and services.

The Southern Common Market (MERCOSUR) is an example of a Customs Union. It is a trade bloc comprising Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Member countries have eliminated tariffs and quotas among themselves and established a common external tariff.

In addition to eliminating tariffs and quotas, a Common Market (CM) also allows for the free movement of labor and capital among member countries.

The European Union (EU) is an example of an Economic Union. It is a highly integrated economic bloc where member countries share a common currency (the Euro), common economic policies, and a common market.

A Preferential Trade Agreement (PTA) aims to reduce tariffs and quotas on specific goods traded between member countries, thereby promoting trade.

The Association of Southeast Asian Nations (ASEAN) is an example of a Partial Scope Agreement (PSA). It is a trade bloc that focuses on promoting economic cooperation and integration among its member countries in specific areas, such as trade in goods, services, and investment.

A Framework Agreement (FA) aims to establish the foundation for future trade negotiations between two or more countries. It typically outlines the scope and objectives of the negotiations and provides a roadmap for the process.

A Trade and Investment Framework Agreement (TIFA) is an example of a Framework Agreement. It is an agreement between two countries that establishes a framework for promoting trade and investment between them.

A Trade Facilitation Agreement (TFA) aims to simplify and streamline trade procedures, thereby reducing the time and cost of trading across borders.

The World Trade Organization (WTO) Trade Facilitation Agreement is an example of a Trade Facilitation Agreement. It aims to simplify and streamline trade procedures among WTO member countries.

A Sanitary and Phytosanitary (SPS) Agreement aims to set standards for food safety and animal and plant health in order to protect human, animal, and plant life from risks associated with the trade of food, animals, and plants.

The World Trade Organization (WTO) Agreement on the Application of Sanitary and Phytosanitary Measures is an example of a Sanitary and Phytosanitary (SPS) Agreement.

A Technical Barriers to Trade (TBT) Agreement aims to set standards for product safety and quality in order to ensure that products meet certain requirements and are safe for consumers.

The World Trade Organization (WTO) Agreement on Technical Barriers to Trade is an example of a Technical Barriers to Trade (TBT) Agreement.