NAFTA - Impact of NAFTA Gundeep singh Gill 1010451 MBA_514...

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Impact of NAFTA Gundeep singh Gill 1010451 MBA_514 Submitted to: Touss SEPEHR 2 June 2011
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Impact of NAFTA NAFTA – North American Free Trade Agreement. NAFTA is agreement signed by Canada, America and Mexico. The agreement came into force on January 1, 1994. All the three presidents of U.S George H.W Bush, Canadian Prime Minister Brian Mulroney and Mexican president Carlos Salinas met at San Antonio on December 17,1992.The main motive of NAFTA is to eliminate barriers of trade and investment between the US, Canada and Mexico. NAFTA was designed to endorse economic growth by encouraging competition in domestic markets and promoting investment from both domestic and foreign sources. Q1 How relevant NAFTA today? After ten years, most taxes have gone to zero, except for some very sensitive (mostly agricultural) goods that have limited protection for up to 15 years. Clearly, U.S.-Mexico trade and investment have grown sharply over the past decade.1994 to 2003, U.S. exports to Mexico rose 91%, compared to 41% to the world. U.S. imports increased by 179%, compared to 89% from the world. The World Bank makes the point that NAFTA has reinforced existing trends in trade growth and estimates that Mexico’s global exports would have been 25% lower
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NAFTA - Impact of NAFTA Gundeep singh Gill 1010451 MBA_514...

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