NAFTA The North American Free Trade Association (NAFTA) is an agreement between three countries namely U.S, Canada and Mexico with an aim of creating the largest free trade area and the richest market in the world. The NAFTA was an agreement that has been implemented since year 1994 but it was in year 2008 when it came into full effect and has proved to be the most comprehensive regional trade ever negotiated by United States. NAFTA set a few key goals which were as follows: 1. Reducing barriers to trade; 2. To increase co-operation for improvement in working conditions of North America; 3. Creating an extended and safe market for goods and services that are produced in North America; 4. To establish clear and mutually advantageous trade rule; …show more content…
A few Pro-NAFTA arguments included improvement in trade affairs, huge gains in trade, great deal of gains to U.S economy; it would solidify the growing relations between the countries, expansion of U.S exports leading to higher-wage sectors in economy, improvement in competitiveness and profitability, improved foreign investment and similarly much more. On the other hand the anti-NAFTA arguments discussed are: less benefits to the Mexican workers than was expected, lifting tariffs by NAFTA but not the regulations, plenty of government –imposed barriers to trade, inequality in rules and regulations in all 3 countries resulting in exploitation of labor and wages distribution. But even after all this arguments there are certain benefits experienced by all three countries which includes benefits in manufacturing field, increased job opportunities, trade and market for less expensive goods and improved agricultural gains and feasibility. From the above arguments the conclusion that can be drawn from my end is that though NAFTA did have a few drawbacks but mostly it has benefited all three countries involved in it. The benefits are experienced in almost all fields starting from agriculture, environmental, economic and trade, increased job opportunities and easy and beneficial import export …show more content…
A few European countries out of total 28 EU members includes Austria, France, Spain, Germany, Portugal, Italy, Ireland, United Kingdom, Denmark and Poland. The EU aims to provide a barrier free trade zone which can help to enhance economic wealth by creating more efficiency within its marketplace. The most beneficial aspect that EU provides to the member countries is elimination of border controls. This improves and enhances easy trade among the member countries improving trade and further resulting in improved economic benefits and growth. A single operating currency (euro) helps to make trade easy and feasible. Agricultural enhancement is also experienced. Also EU has a standardized rules and regulation procedure for the member countries which reduces the chances of injustice and inequality. Also trade is possible for goods and services amongst the member countries without tariffs or duties. These are a few aspects that attract European countries to be a part of the