Advantages And Disadvantages Of Nafta

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Nafta The North American Free Trade Agreement was established between three countries on January 1, 1994. Nafta is an agreement between the countries of Canada, Mexico, and the United States that eliminates tariffs and encourages economic activity between these nations. As with many agreements Nafta has its shares of pros and cons but there has been more benefits come out than problems. For example, the agreement has been recognized for facilitating Americans the ability to purchase Canadian and Mexican goods. Not only has the agreement benefited the united but all three countries as well. According to the statistics released on a recent study, it was discovered that in all three nations there was a dramatic increase in trade from $337 billion in 1993 to $1.82 trillion in 2011! Not to mention the slight increase in wages for workers. Some people disagree and say that even without tariffs there are still plenty of government imposed barriers on trade. But, have they considered how it has impacted the member nations by raising the standard of living, improved environmental conditions, and increased the trading between those nations. As EU The European Union is a one of a kind economic and political partnership between 28 European countries that as stated in the title cover much of the European continent. According to the European Union’s website there purpose is to, “continue prosperity, freedom, communication and ease of travel and commerce for its citizens.” When it comes to advantages and disadvantages the European Union has more advantages. The EU eliminates an exchange rate which leads to greater competition, lower prices, and more international trade. European Union also has benefited its member countries by uniting them t... ... middle of paper ... ...sists of one Governor and one Alternate Governor from each member country. The Board of Governors meets once each year at the World Bank Annual Meetings .Twenty-four of the Governors sit on the International Monetary and Financial Committee and normally meet twice each year. The IMF is the same as the World Bank in the way that they share the same goal of raising living standards in their member countries World Bank The World Banks’ website lists a variety of financial products and services it offers to its members. For example, providing low-interest loans, interest-free credits, and grants to developing countries they also provide or facilitate financing through trust fund partnerships with bi lateral and multilateral donors. One last service is the support they offer to developing countries through policy advice, research and analysis, and technical assistance.

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