Layunin Ng North American Free Trade Agreement Brainly

The North American Free Trade Agreement, commonly referred to as NAFTA, is a trilateral trade agreement between the United States, Canada, and Mexico. It was signed in 1994 and went into effect on January 1, 1995.

The primary objective of NAFTA was to eliminate trade barriers between the three countries and promote economic growth. The agreement was designed to encourage free trade and to make it easier for businesses to operate across borders. With the elimination of tariffs on goods and services, NAFTA created a regional market with a combined GDP of over $20 trillion.

One of the main goals of NAFTA was to create jobs and increase economic opportunities in all three countries. By reducing trade barriers, NAFTA made it easier for businesses to expand their operations and to access new markets. This, in turn, created new jobs and increased economic growth.

Another important objective of NAFTA was to promote environmental and labor protections. The agreement included provisions that required each country to enforce its own labor and environmental laws and to ensure that businesses within its jurisdiction complied with these laws. Additionally, NAFTA established a Commission on Environmental Cooperation and a Commission for Labor Cooperation to oversee the implementation of these protections.

One of the benefits of NAFTA was the increased investment and innovation it encouraged. The agreement created a more stable and predictable environment for businesses, which made it easier for them to plan and invest in new projects. This led to new technologies, products, and services that helped to drive economic growth in all three countries.

In conclusion, the primary objective of NAFTA was to eliminate trade barriers between the United States, Canada, and Mexico. By doing so, the agreement created a regional market with a combined GDP of over $20 trillion. The agreement also aimed to promote environmental and labor protections, as well as increased investment and innovation. Overall, NAFTA was a landmark agreement that helped to promote economic growth and stability in North America.