Abstract
The North American Free Trade Agreement (NAFTA) was passed by the legislative bodies of Canada, Mexico, and the USA in 1993 and it became effective on January 1, 1994. NAFTA is the most comprehensive free trade and investment pact, short of a common market, ever negotiated between regional trading partners (Hufbauer and Schott 1993; Weintraub 1993). It is also the first regional trade agreement between advanced industrial nations and a developing nation.
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