Advantages of Regional Integration - Summary

Topics: International trade, Economic integration, North American Free Trade Agreement Pages: 2 (541 words) Published: February 7, 2013
Regional Integration Advantages
Lorayne Henriquez
University of Phoenix
Timothy Callaghan February 09, 2013

Regional Integration The North American free trade agreement (NAFTA) is an agreement signed on January 1, 1994 between Mexico, Canada, and the United States governments. NAFTA goal is to create a trilateral trade bloc in North America to eliminate many barriers to investments and trade between the three nations. NAFTA environmental impact can also be an issue for most Mexicans. NAFTA brought the elimination of one-half of Mexico’s exports tariffs to the U.S. as well as one-third of U.S. export to Mexico. NAFTA also seeks to protect the intellectual property rights of all products that are non-tariff.

Regional integration in the form of NAFTA brought many economical and political advantages to Mexico. Is has been positive for Mexico because we have seen a reduction on poverty rates, real income rises, lower food prices. Regional integration has been beneficial to business owners and elites in all three countries. NAFTA opened many doors for open trade, ending tariffs on various goods and services, and implementing equality between the U.S., Canada, and Mexico. It allows agricultural goods such as eggs, corn, ad meats to be tariff- free, it also allow Mexico to freely import and export goods to north America scale.

Regional integration is an approach to economic liberation setting a distinctions between preferences are, free trade are, customs union, common markets, and economic union. A preference area constitutes to weakest form of integration and an economic union the strongest form of integration. Regional integration grants the member nations preference conditions for trade of certain specified product categories. Quotas and taxes can be removed partially or in total for those specific...
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