NAFTA: Canada's & Mexico's Viewpoints
When the Canada/U.S. free trade agreement came into effect, the
Mexican's were very impressed by the provision and opportunities that opened for
both sides. Mexico then approached the U.S., seeking to form a similar
agreement with them. This brought forth a new issue in Canada, should they let
Mexico 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 including
Mexico.
On June 12, 1991, the trade ministers of Canada, the United States and
Mexico met in Toronto to open negotiations for a North American Free Trade
Agreement (NAFTA). This was an historic occasion. For the first time ever, a
developing country agreed to sit down with two industrial countries to craft an
agreement that would open its economy to full competition with the other two
countries. If successful, the agreement promised to make the whole North
American continent into one economic zone and set an important precedent for
trade and economic cooperation between the wealthy countries of the North and
less developed countries of the South. The challenge before them was both
exciting and daunting.
A little more than a year later, the three trade ministers met again in
Washington, to put the finishing touches on a new North American Free Trade
Agreement. In just over a year the negotiators from the three countries had
successfully met the challenge and put together a new trading frame work for
North America. The North American Free Trade Agreement (NAFTA) was set to be
implied.
The North American Free Trade Agreement often raises questions regarding
the new economic trading blocs around the world. The twelve-nation European
Community (EC), a Central American free trade zone, and a four-nation South
American group, as well as preliminary discussions regarding an Asian trading
bloc, all point to the fact that new economic realities already exist.... [continues]
When the Canada/U.S. free trade agreement came into effect, the
Mexican's were very impressed by the provision and opportunities that opened for
both sides. Mexico then approached the U.S., seeking to form a similar
agreement with them. This brought forth a new issue in Canada, should they let
Mexico 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 including
Mexico.
On June 12, 1991, the trade ministers of Canada, the United States and
Mexico met in Toronto to open negotiations for a North American Free Trade
Agreement (NAFTA). This was an historic occasion. For the first time ever, a
developing country agreed to sit down with two industrial countries to craft an
agreement that would open its economy to full competition with the other two
countries. If successful, the agreement promised to make the whole North
American continent into one economic zone and set an important precedent for
trade and economic cooperation between the wealthy countries of the North and
less developed countries of the South. The challenge before them was both
exciting and daunting.
A little more than a year later, the three trade ministers met again in
Washington, to put the finishing touches on a new North American Free Trade
Agreement. In just over a year the negotiators from the three countries had
successfully met the challenge and put together a new trading frame work for
North America. The North American Free Trade Agreement (NAFTA) was set to be
implied.
The North American Free Trade Agreement often raises questions regarding
the new economic trading blocs around the world. The twelve-nation European
Community (EC), a Central American free trade zone, and a four-nation South
American group, as well as preliminary discussions regarding an Asian trading
bloc, all point to the fact that new economic realities already exist.... [continues]
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