Canada and Mexicos Viewpoints of NAFTA :: Free Trade Agreements Foreign Affairs Essays

Canada and Mexicos Viewpoints of NAFTAWhen the Canada/U.S. free trade agreement came into effect, theMexicans were very impressed by the provision and opportunities that throwed for twain sides. Mexico then approached the U.S., seeking to form a similaragreement with them. This brought forth a new issue in Canada, should they letMexico and the U.S. form an agreement without them? Or should they participate,thus transforming their deal with the U.S. into a trilateral agreement includingMexico.On June 12, 1991, the trade ministers of Canada, the United States andMexico met in Toronto to open negotiations for a North American justify craftinessAgreement (NAFTA). This was an historic occasion. For the first time ever, adeveloping country agreed to sit down with two industrial countries to craft anagreement that would open its economy to full competition with the other twocountries. If successful, the agreement promised to make the whole NorthAmerican continent into one economic zone a nd suffice an important precedent fortrade and economic cooperation between the wealthy countries of the North andless developed countries of the South. The challenge before them was bothexciting and daunting.A unretentive more than a year later, the three trade ministers met again inWashington, to put the finishing touches on a new North American Free TradeAgreement. In just over a year the negotiators from the three countries hadsuccessfully met the challenge and put together a new trading trammel work forNorth America. The North American Free Trade Agreement (NAFTA) was set to beimplied.The North American Free Trade Agreement very much raises questions regardingthe new economic trading blocs around the world. The twelve-nation EuropeanCommunity (EC), a Central American free trade zone, and a four-nation SouthAmerican group, as well as preliminary discussions regarding an Asian tradingbloc, all point to the fact that new economic realities already exist. NAFTApromises to have a major stir on the people in all three nations. There willobviously be short-term costs of adjustment, which will certainly hit aboutindustries, regions, and workers harder than others. There will be definitewinners in the agreement, and definite losers in the agreement. There evenmight be disputes. Whether as workers, investors, consumers, or ordinarycitizens in all three countries they may be affected. The final verdict on theNorth American Free Trade Agreement, may in fact non fully be realized for manyweeks, months, or even years. However, in the following essay, the advantagesto both Mexico and Canada will be analyzed, as well as the disadvantages toMexico. It is practiced to say that the advantages clearly outweigh the