NAFTA: Achievements and Challenges



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Code : ITF0016

Year :
2004

Industry :General Business

Region : :US Canada Mexico

Teaching Note: Not Available

Structured Assignment : Not Available

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Abstract: The North American Free Trade Agreement (NAFTA), that was signed by the US, Canada and Mexico in December 1992, came into effect from January 1994. Within six years of the implementation of the free trade agreement, the trade between the three countries had increased from $109 billion (1994) to $622 billion by 2000. NAFTA also had a significant impact on the three economies in terms of rapid growth in job opportunities and foreign direct investments. However, it was opined that NAFTA still had to confront certain challenges to achieve its objective of lifting all the trade barriers between the US, Canada and Mexico.

Pedagogical Objectives:

  • To discuss the impact of NAFTA on the trade between US, Canada and Mexico
  • To discuss the various trade challenges NAFTA faced

    Keywords
    North American Free Trade Agreement (NAFTA), North American economies, Free trade agreements, Regional trade blocks, Foreign trade, Association of Southeast Asian Nations (ASEAN), International Trade & World Economy Case Study, European Union, MERCOSUR, 1998 US-Canada free trade agreement, Globalisation, GATT, CARRICOM, Growth of gross domestic product in North America, Challenges of NAFTA, Worth Trade Organisation (WTO)

    Contents :
    THE BEGINNINGOF NAFTA
    Challenges confronting NAFTA
    Regional Trade Blocks


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