NORTH AMERICAN FREE TRADE AREA (NAFTA) COVERS ALL AMERICAN COUNTRIES

In 1988 the United States signed a free trade agreement with Canada (U.S.-Canada Free Trade Agreement or CFTA),which was enlarged in 1993 to include Mexico in a North American Free Trade Area(NAFTA).NAFTA created a free trade area with a 1992 population of 373 million and a gross national product of $6.6 trillion.

All three governments will promote economic growth through expanded trade and investment. The benefits of continental free trade will enable all three countries to meet the economic challenges of the decades to come.The staged elimination of barriers to the flow of goods, services and investment,coupled with strong intellectual property rights protection will benefit businesses,workers,farmers and consumers.Canada and Mexico are the first and third largest trading partners with the United States.Ontario is a bigger trading partner of the United States than Japan.In turn,the United States accounts for more than two-thirds of their total trade.Combined three-way trade in 1990 amounted to $237 billion.