What does TIFA mean in INTERNATIONAL BUSINESS

The purpose of TIFA is to create a comprehensive framework for cooperation between two countries in terms of trade and investment. It outlines the agreed-upon rights and obligations of both countries with respect to encouraging economic growth, structural reforms, international trade and investment.

In order to facilitate cooperation between two countries under a TIFA agreement, they must negotiate specific provisions such as dispute settlement mechanisms as well as commitments with respect to improving market access opportunities. Once these details have been finalized, they become legally binding on both parties.

The negotiation process typically involves multiple agencies within each government involved in order to ensure that all interests are taken into consideration. Governments often commission special commissions or committees with representatives from relevant ministries who have expertise in international trade or investment law in order to carry out negotiations efficiently and effectively.

Yes - many regional organizations can be helpful in implementing a TIFA such as the World Bank or regional development banks like ASEAN's Development Bank (ADB). They can provide valuable advice on negotiating TIFAs as well as provide support during implementation.

After signing a TIFA agreement, it becomes legally binding on both parties who must abide by its rules and regulations. The scope of the agreement may also determine how often it should be reviewed or amended based on changes in economic conditions or relations between both countries involved.