What Are the Main Objectives of NAFTA?
The main objectives of the North American Free Trade Agreement, or NAFTA, include removal of barriers to trade, enhancement of fair competition, to open up more opportunities, provision of security, to easily solve disputes and to explore new ways of co-operation. NAFTA is an international agreement that was signed by the United States of America, Canada and Mexico in a bid to establish a trilateral relationship for prosperity of all the countries.
One of the objectives of NAFTA is to ensure that citizens of member countries are able to trade with each other under limited restrictions. Barriers, such as taxes and other obstacles that may hinder trade, are effectively addressed under this agreement. The agreement also seeks to open up new opportunities for all citizens wishing to pursue their dreams with regard to business establishment and management.
Another important objective of this agreement is to provide a conducive environment for members to engage in safe trade. This means there are security measures put in place to ensure everyone's business is protected from physical and intellectual rights violations.
The NAFTA agreement, which was signed on January 1, 1994, also seeks to address international disputes in a manner that does not compromise relations between the countries.