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The implementation of the North American Free Trade Agreement

Date : 1994-January-01

Country/Region : North America

Description :

The North American Free Trade Agreement (NAFTA) is a trade agreement between Canada, Mexico, and the United States. It was implemented to promote trade between these three countries. This agreement came into effect on January 1, 1994. The agreement aimed to eliminate tariffs on goods traded between the three countries, increase trade and investment, and lead to greater economic integration. According to that, this agreement eliminated most tariffs on trade between the three countries. Also, NAFTA made a significant contribution toward liberalizing trade in North America and helped to increase economic development and competitiveness in the region.

Category : Economic

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