U.S.
ECONOMY > International
Trade > Global
Trade Agreements > North American
Free Trade Agreement
By strengthening the rules
and procedures governing trade and investment
on this continent, the NAFTA has allowed
trade and investment flows in North America
to skyrocket. According to figures of the
International Monetary Fund, total trade
among the three NAFTA countries has more
than doubled, passing from US$306 billion
in 1993 to almost US$621 billion in 2002.
That’s US$1.2 million every minute.
The North American Free Trade
Agreement (NAFTA), is an outstanding demonstration
of the rewards to outward-looking countries
that implement policies of trade liberalization
as a way to increase wealth and improve
competitiveness. The NAFTA is an example
of the benefits that all countries could
derive from moving forward with multilateral
trade liberalization. Farmers, workers and
manufacturers benefit from the reduction
of arbitrary and discriminatory trade rules,
while consumers enjoy lower prices and more
choices.
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