In January 1992, Canada, the United States and Mexico launched the North American Free Trade Agreement (NAFTA) and formed the world's largest free trade area. The Agreement has brought economic growth and rising standards of living for people in all three countries. In addition, NAFTA has established a strong foundation for future growth and has set a valuable example of the benefits of trade liberalization. Even though there are some issues with NAFTA where all of Canadians Labour Industries are moving to Mexico but it has allowed Canada to trade its lumber to the U.S.

Historical Importance

The historical importance of the North American Free Trade Agreegment is that it was the largest free trade area. The point of this agreement was to bring economic growth for all the three countries within the agreement.

The North American Free Trade Agreement was implemented on January 1, 1994. Its purpose was to remove tariff barriers between Canada, the United States and Mexico. The Agreement includes two supplemental agreements on environmental and labor issues that address cooperative efforts to reconcile policies and procedures for dispute resolution between the member countries. The North American Free Trade Agreement has brouhgt the three countries together.