Definition of NAFTA

North American Free Trade Agreement


   (Concise Encyclopedia)

Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's largest free-trade area. It basically extended to Mexico the provisions of a 1988 Canada-U.S. free-trade agreement, calling for elimination of all trade barriers over a 15-year period, granting U.S. and Canadian companies access to certain Mexican markets, and incorporating agreements on labour and the environment. See also General Agreement on Tariffs and Trade; World Trade Organization.

Variants of NAFTA

NAFTA in full North American Free Trade Agreement


Next Word in the Dictionary: nag (noun)
Previous Word in the Dictionary: naeve
All Words Near: NAFTA

Seen & Heard

What made you want to look up NAFTA? Please tell us where you read or heard it (including the quote, if possible).