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The North American Free Trade Agreement was formed in January 1994. Countries such as USA, Canada and Mexico declared the North American region as free trade area called as NAFTA.
Presently this is the largest free trade area and an important trading bloc in the world and has brought economic success in the above countries. Though there was free trade deal between USA and Canada before NAFTA, still it is extended to Mexico now.
Decisions In NAFTA
NAFTA is considered as one of the challenge for Japanese economic policies. In NAFTA was decided that Japan cannot exploit the benefits of the US market. NAFTA is to create new options for the American consumers and to create more employment opportunities in Mexico.
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Benefits From NAFTA
Both Canada and Mexico have become able to increase their exports to the United States. Presently manufactures of Canada send larger volume of their products to US and Mexico's share of the US import market has increased very fast. According to statistics, presently 86.6% of merchandise exports go to NAFTA partners.
Contact Details Of NAFTA
U.S. Department of Commerce
International Trade Administration
Office of NAFTA and Inter-American Affairs
14th Street and Constitution Ave. NW, Suite 3024
Washington, D.C. 20230
Phone: (202) 482-0393
Fax: (202) 482-5865
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