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North Atlantic Free Trade Agreement - Is It Working - Report Example

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This paper "North Atlantic Free Trade Agreement - Is It Working?" focuses on the fact that NAFTA is a free trade agreement between three nations, the United States of America, Mexico, and Canada. It was signed in 1994. This paper will start off by discussing the history of NAFTA. …
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North Atlantic Free Trade Agreement - Is It Working
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Download file to see previous pages The result of the agreement was the world largest free trade area (Foreign Affairs and International Trade Canada). This means that all the barriers that hindered trade and investment within the three countries would be lifted. All the non-tariff agricultural barriers were removed that were once there between Mexico and the United States of America.

Their tariffs were decided to be removed within a period of time of 5 to 15 years. With Canada, all the agreements that were signed regarding trade and agriculture were included in this agreement (United States Department of Agriculture). In short, the three countries, after signing the agreement, we're able to buy, sell and invest in international markets and institutions just like they would have done it within their country’s borders.

According to another source, the negotiations of the agreement were critically shaped by three factors. The first factor was the asymmetry of powers between the three states. The second factor was sharply contrasting domestic political institutions and the last was differences in the non-agreement alternatives, patience and risk orientation of the heads of governments and their chief negotiators (Cameron, & Brian).

It is no surprise that NAFTA benefited the countries that were associated with it as free trade brings with it a number of advantages. In fact, it was so successful that one particular source referred to this free trade agreement as ‘one of the most successful trade agreements in history’ (United States Department of Agriculture). There are many benefits that Canada, the United States, and Mexico are enjoying that were the result of NAFTA. They are as following;

One of the most important positive effects of the agreement was that it benefited Canada, United States of America and Mexico economically and also raised the standard of living of the people living there (Foreign Affairs and International Trade Canada).  ...Download file to see next pagesRead More
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