Business Trade Agreements
ftaa
It could have also brought lower costs for consumers, because companies would not have to pay as much for labour, so wealthy countries like Canada could benefit from the new, lower costs.
ftaa
It involves all countries in the Americas except Cuba
cafta
It is an expansion of NAFTA (North American Free Trade Agreement) and it includes five Central American nations which are: Guatemala, El Salvador, Honduras, Cost Rica, and Nicaragua. The agreement was further expanded a couple of years later to include the Dominican Republic.
cafta
It is important for Canada because since United States plays a big role in the agreement and we trade primarily with the States so our access to products can be affected.
ftaa
It is not currently active and it faces a lot of opposition.
ftaa
It relies on NAFTA rules for guidance in the negotiations.
gatt
It set the stage for the EU
cafta
It stabilized and boosted the economies of Costa Rica, Nicaragua and the Dominican Republic in its first couple of years.
gatt
It was the first worldwide multilateral free trade agreement.
ftaa
It will empower corporations to stop governments from setting standards for safety and public health, to safeguard their workers and to ensure corporations do not pollute the communities in which they operate.
eu
It will help Canada rely less on the USA as Canada will receive and export more to the countries of this agreement
gatt
Led to the creation of the WTO
ftaa
Like NAFTA, this agreement encourages companies to take manufacturing jobs out of Canada, and brings them into other countries with cheaper labour costs, such as Mexico, Haiti or Guatemala
cafta
Local farmers have trouble competing with the agreement. For example, before the agreement the Honduras had a trade surplus in agricultural products whereas six years later, Honduras is experiencing a trade deficit.
ftaa
Many Southern American countries believe that the powerful, larger, North American countries will take advantage of the smaller South American countries.
NAFTA
North American Free Trade Agreement
efta
The Agreement aims at liberalising and facilitating trade in goods in conformity with the relevant WTO provisions.
Eu
The Comprehensive Economic and Trade Agreement is a trade free agreement between Canada and the _____________________
efta
The European Economic Area allowed members of this agreement to take part in the European Union's internal market without being a part of the EU
nafta
The North American Agreement on Labour Cooperation was established to ensure the effective enforcement of existing and future domestic labour standards and laws.
APEC
encourages the flow of goods, services, capital and technology
APEC
established because of all the interdependence of the Asia-Pacific economies
cafta
facilitates international trade by promoting the idea of a powerful country working effectively with smaller developing countries to make a growing free trade agreement.
APEC
has a combined GDP of more than half the world's GDP
efta
increase of GDP
ftaa
it is an expansion of NAFTA for all of the Americas
eu
it is expected to increase trade and boost the economy
cafta
led to the loss of manufacturing jobs in the USA
efta
most members have left this agreement to join the eu
gatt
was established through 8 rounds
APEC
western countries were concerned that if India joined, it would tilt the balance of power in India's favour
gatt
treated the developing countries differently to give them more trading opportunities.
APEC
decreases difficulties in trade
cafta
Although Canada is not a member, it supports this agreement because it may lead to more support for FTAA (Free Trade Area of the Americas)
APEC
Asia-Pacific Economic Cooperation
eu
Better Employee Rights - Employees are treated more fairly and paid slightly more
efta
Canada created a trading bloc with this agreement in 2009
eu
Canada will have to compete with a market of over 500 million person market rather than the current 35 million.
CAFTA
Central American Free Trade Agreement
gatt
Cons: it caused the reduction of the rights of a nation to rule its own people. This trade agreement made many smaller economies much less stable.
eu
Economic Growth - These countries lower and remove tariffs on goods from other countries in and share products
EFTA
European Free Trade Association
EU
European Union
FTAA
Free Trade Area of the Americas
eu
Freedom to cross Borders- This allows people to go more freely between countries in the agreement
GATT
General Agreement on tariffs and trade
nafta
Has helped make the businesses more competitive
nafta
Has paved the way for greater market competition and enhanced choice and purchasing power for North Americans
ftaa
Poorer countries could benefit because there would be new jobs in these countries, supporting the economy of the poorer regions of the Americas. Although this only helps a certain demographic.
gatt
Pros: boosted world trade, promoted world peace, improved communication by giving countries an incentive to learn English , reduced misunderstanding, giving less developed countries a competitive advantage. It also gave an insight to smaller countries about the developed country's culture, marketing and product needs. The reduction of tariffs destroyed some domestic industries, contributing to high unemployment in those sectors.
gatt
Purpose: to eliminate harmful trade protectionism that had sent global trade down by 65% during the Great Depression.
efta
Since 1995, only two of the original founding countries were left
nafta
Some industries which were expected to suffer, grew instead.
cafta
The first time the United States ever made a trade agreement with developing countries.
efta
The four remaining countries are Switzerland, Iceland, Norway and Liechtenstein
gatt
The fundamental principles are: Trade should not be discriminatory in any way. Quantitative restrictions should be eliminated Any disagreements or conflicts that occur should be solved through consultation.
gatt
The main objectives : To expand international trade To increase world production by making sure that the participating countries have full employment To develop and fully use the world's resources and raise the standard of living of the entire world.
cafta
The smaller developing economies that are a part of this agreement are starting to become stronger in terms of their part in the global trade sector.
eu
This could be potentially bad as European corporations could affect Canada's policies possibly affecting our health care, environment, job creations and other things that make up Canada's society and economy.
nafta
With rapidly growing economies in Asia and South America challenging North America's competitiveness, NAFTA remains key to sustained growth and prosperity.
efta
Workers in all sectors of the economy have been impacted positively leading to the creation of jobs
cafta
a trade agreement among various countries within Central America.
APEC
allows Canada to further engage in discussions and negotiations in one of the world's largest economic zones
ftaa
allows larger countries to trade (or increase trade) with smaller countries.
ftaa
allows rich companies from North America to take over the markets in a lot poorer nations which takes away an already weak job market.
nafta
an agreement signed by Canada, Mexico and the United States, creating a trilateral trade bloc in North America
efta
an intergovernmental organisation set up for the promotion of free trade and economic integration to the benefit of its four Member States: Iceland, Liechtenstein, Norway, Switzerland.
eu
creates peace- No country in this agreement has fought another country in the agreement since 1952
nafta
put Mexican farmers out of business
APEC
reduces tariffs for all the participating countries
APEC
supports economic growth for all participating countries
APEC
the only trans-Pacific regional organization that hosts a leaders-level meeting at which Canada is present
nafta
the participating countries have take certain steps to protect the environment through the North American Agreement on Environmental Cooperation