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    Global Trade Assignment

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    Md Nazmus Sakib
    NAFTA is a union between Canada, Mexico, and the United States that aims to reduce trade barriers between the three countries. As a member of NAFTA, Canada benefits from free trade with the US and Mexico. NAFTA functions as a common market by allowing free movement of goods, services, and factors of production between members while maintaining individual trade policies with non-member countries. While NAFTA has economic advantages like job creation and access to larger markets, it also has disadvantages like job losses as companies relocate to lower-cost Mexico and increased inequality between socioeconomic classes in member countries.

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    Global Trade Assignment

    Uploaded by

    Md Nazmus Sakib
    24 views9 pages
    NAFTA is a union between Canada, Mexico, and the United States that aims to reduce trade barriers between the three countries. As a member of NAFTA, Canada benefits from free trade with the US and Mexico. NAFTA functions as a common market by allowing free movement of goods, services, and factors of production between members while maintaining individual trade policies with non-member countries. While NAFTA has economic advantages like job creation and access to larger markets, it also has disadvantages like job losses as companies relocate to lower-cost Mexico and increased inequality between socioeconomic classes in member countries.

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    GLOBAL TRADE

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    NAFTA is a union between Canada, Mexico, and the United States that aims to reduce trade barriers between the three countries. As a member of NAFTA, Canada benefits from free trade with the US and Mexico. NAFTA functions as a common market by allowing free movement of goods, services, and factors of production between members while maintaining individual trade policies with non-member countries. While NAFTA has economic advantages like job creation and access to larger markets, it also has disadvantages like job losses as companies relocate to lower-cost Mexico and increased inequality between socioeconomic classes in member countries.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    24 views9 pages

    Global Trade Assignment

    Uploaded by

    Md Nazmus Sakib
    NAFTA is a union between Canada, Mexico, and the United States that aims to reduce trade barriers between the three countries. As a member of NAFTA, Canada benefits from free trade with the US and Mexico. NAFTA functions as a common market by allowing free movement of goods, services, and factors of production between members while maintaining individual trade policies with non-member countries. While NAFTA has economic advantages like job creation and access to larger markets, it also has disadvantages like job losses as companies relocate to lower-cost Mexico and increased inequality between socioeconomic classes in member countries.

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    © All Rights Reserved
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    Download as doc, pdf, or txt
    of 9

    GLOBAL TRADE

    Assignment

    1
    A
    GLOBAL TRADE
    Assignment

    An assigned group work submitted to:


    FARZANA CHOUDHURY
    In partial completion of the requirements for
    GLOBAL TRADE (SECTION: C)
    Prepared by
    Group 6: CANADA

    RASHEDI SAMIUR RAHMAN: 06-07262-3

    JAKARIA MUHAMMUD: 06-07485-3

    TASLIMA UMME: 06-07090-2

    ISLAM MD. SHARIFUL:             07-07840-1

    Department of Business Administration


    American International University-Bangladesh

    2
    NAFTA LOGO

    3
    1) Is your country part of a union?

    Yes, my country is part of NAFTA (North American Free Trade Agreement). This is
    an organization which is consisting of 3 member nations CANADA, MAXICO AND
    USA. It was the subsided Canada-United States Free Trade Agreement between the U.S.
    and Canada. In terms of combined purchasing power parity GDP of its members. Main
    aim behind creating NAFTA was to declining trade barrier between these 3 neighbors so
    that they can be stronger in terms of business and power than other developed countries
    of Europe and Asia. NAFTA helps Mexico to sell there products in USA in cheaper price
    as well as it helps Canada to expand there business in USA and also it helps USA to get
    Canadian and Mexican recourses easily. Because of NAFTA Canadian people can enter
    into USA without any visa. There are still some barriers in exporting in some of the
    agricultural products but NAFTA is seeking elimination of that barrier too.

    2) What are the requirements of joining this union?

    NAFTA was build only for this three nations so except them no one is can enter into this
    union. There are lots of reasons behind it, because
     USA will not allow any one to enter here because it was build by USA to make
    them more strong by using there neighbors.
     Canada will not allow any other nations to use there resources (for example:
    Water)
     It will create more inequality in Mexico.

    4
    3) What is Canada’s role in this union?

    NAFTA superseded the Canada-United States Free Trade Agreement between the U.S.
    and Canada. In terms of combined purchasing power parity GDP of its members. in 1988.
    Canada and the United States signed the Canada-United States Free Trade Agreement.
    The American government then entered into negotiations with the Mexican government
    for a similar treaty, and Canada asked to join the negotiations in order to preserve its
    perceived gains under the 1988 deal.

    4) What kinds of a union is it?

    Before knowing what kind of union is it lets see what the levels of economic integration
    are:

    1) FREE TRADE
    2) CUSTOMER UNION
    3) COMMON MARKET
    4) ECONOMIC UNION
    5) POLITICAL UNION

    5
    NAFTA falls under level 3 COMMON MARKET; because there are no barrier of trade
    between member countries in NAFTA includes a common external trade policy and
    allows factors of production to move freely between members.

    6
    5) What Are The Advantages we enjoy from NAFTA?

    1) Free trade between member countries.


    2) Canadian people can enter into USA with out any restriction or visa.
    3) NAFTA is creating job opportunities for lots of people.
    4) NAFTA is also helping by improving life style.
    5) Because of NAFTA Canadian customers are getting USA’s product in cheaper
    price.
    6) NAFTA is helping Canada by allowing them entering into Mexico with there
    product.
    7) NAFTA is making these three nations stronger than before.
    8) It is also helping by ensuring good use of recourses.
    9) NAFTA is helping Mexico by making them strong like Canada and Mexico.
    10) USA now can use Canadian and Mexican resources easier than before.
    11) NAFTA created the world’s largest free trade area.
    12) NAFTA increases USA’s GDP by as much as 5 % a year.
    13) Elimination of tariffs also reduces inflation.
    14) NAFTA is encouraging business growth.
    15) NAFTA is linking 439 million people and producing $15.3 trillion in goods and
    services annually.

    7
    6) What are the disadvantages we enjoy from NAFTA?

    1) Free trade is hampering Canada by allowing U.S. manufacturers to move jobs to


    lower-cost Mexico.
    2) Lots of people same time is loosing job.
    3) Local businesses are getting out of business because other two countries are
    taking over the market.
    4) It has negative impact on farmers.
    5) Moving without any visa can motivate illegal works.
    6) Lots of USA’s top wanted criminals select Canada for hide out.
    7) USA tries to motivate lots of decisions which can cause negative effect on Canada
    and Mexico.
    8) Deference between lower class and upper class is getting wider.
    9) Lots of Canadian products are loosing there market to USA’s product.
    10) Selling Canadian products in USA in cheeper price some times cause loss for the
    Canadian manufacturer.

    8
    9

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