Over the past two decades, globalization has gained prominence in the.
In the past, most economies exercised a lot of caution in.
ensuring that they were safeguarded with appropriate tariffs to protect.
their domestic trade economies in an effort to strengthen their bargaining.
power regionally. Today, the protectionist practices in the global arena.
have been virtually abandoned by many economies to enable them transact.
billions of dollars worth of trade; without hindrances that come with.
bureaucracy in uncoordinated tariffs. The North American Free Trade.
Agreement (NAFTA) is an agreement between three North American countries,.
including the United States, Canada and Mexico that was reached between the.
countries in 1993. This agreement took effect in 1994 and since then; much.
has changed in the trading landscape between the three countries. Trade.
volumes have particularly increased tremendously between the partners.
However, even though the agreement was supported strongly by investors'.
mission for wealth creation, debate rages on as to whether it has had.
positive or negative effects to each of the countries (Devadoss, Kropf and.
Wahl, 1995).
The main issue here is that, all the three economies have different.
views on legality of most of the provisions. Some feel negatively affected.
by the agreement and there are those who think it has benefited them.
tremendously. These groups include poor farmers, small businesses, large.
businesses, industrialists and many more. The main aim of this paper is to.
assess the NAFTA as business legislation and determine its functions,.
benefits and effects to various parties the countries involved. The paper.
then concludes with an attempt to provide answers to the questions arising.
and offer some solutions.
The NAFTA Agreement.
NAFTA is the abbreviation for North American Free Trade Agreement.
This is one of the greatest free trade agreements ever to grace the world.
of business. The agreement signed in 1993 and effected at the beginning of.
