Nafta, Eu, Wto, & Gatt

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North American Free Trade Agreement (NAFTA)

The North American Free Trade Agreement was formed on January 1, 1994 with the final provisions being fully implemented as of January 1, 2008. The agreement is meant to eliminate a majority of the trade barriers, as well as invest in the three member nations: Canada, Mexico, and the United States. NAFTA is viewed as one of the most successful trade agreements in history and has helped provide increases in agricultural trade, as well as investments between the three member countries. The purpose of the North American Free Trade Agreement is to eliminate trade barriers, which is mostly done by eliminating a number of non-tariff measures that affect agricultural trade between Canada,
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(WTO) & General Agreement on Tariffs & Trade (GATT)

The World Trade Organization was formed on January 1, 1995 however; its trade system is almost 50 years older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. The main purpose for the World Trade Organization is to offer a forum for negotiation of trade between member Governments. The bulk of these agreements came from the 1986-1994 Uruguay Round negotiations, as well as from the GATT. Currently, the WTO is host to a new set of negotiations under the “Doha Development Agenda” launched in 2001. At the center of the WTO, are the agreements reached between the majorities of the world’s trading nations. These documents provide legal guidelines (and rules) for international commerce and general business. These agreements are ultimately viewed as contracts, binding the participating governments to keeping their trade policies within agreed limits. The system’s overriding purpose is to help trade flow freely for the economic development and well being of participating governments and their countries. The General Agreement on Tariffs and Trade was first signed in 1948, although some sources say 1947 (the year the idea was conceived). This agreement is designed to provide an international
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