Final answer:
Agencies often enter into regional trading agreements to reduce tariffs, import quotas, and nontariff barriers, like the North American Free Trade Agreement (NAFTA) for the United States.
Step-by-step explanation:
Many agencies, specifically governmental agencies, have entered into various types of regional trading agreements with neighboring agencies or countries. These agreements are instrumental in fostering international trade by setting goals for reducing tariffs, import quotas, and nontariff barriers, hence promoting economic cooperation and growth. For instance, for the United States, the North American Free Trade Agreement (NAFTA) is amongst the most significant of these agreements, alongside others like the Caribbean Basin Initiative and the free trade agreement with Israel. An interesting metaphor used by an economist referred to these numerous interconnected agreements as a "spaghetti bowl" because of the complex network they create when each connection is drawn on a map.