What does NAFTA stand for?

What does NAFTA stand for?

• A. North American Free Trade Agreement
• B. North Atlantic Free Trade Agreement
• C. North American Federal Trade Accord
• D. National Australian Free Trade Agreement

Answer: (A)

The correct answer is indeed the North American Free Trade Agreement. NAFTA was an agreement established in 1994 among the United States, Canada, and Mexico aimed at eliminating trade barriers and promoting free trade between the three countries. It facilitated the reduction of tariffs and increased market access, which in turn encouraged economic cooperation and investment across the borders of the member nations. Understanding NAFTA's purpose and its implications on North American economies is crucial, particularly in the context of international business and trade relations. The other options reflect similar-sounding names but do not accurately represent the agreement focused on trade in North America.

The correct answer is indeed the North American Free Trade Agreement. NAFTA was an agreement established in 1994 among the United States, Canada, and Mexico aimed at eliminating trade barriers and promoting free trade between the three countries. It facilitated the reduction of tariffs and increased market access, which in turn encouraged economic cooperation and investment across the borders of the member nations.

Understanding NAFTA's purpose and its implications on North American economies is crucial, particularly in the context of international business and trade relations. The other options reflect similar-sounding names but do not accurately represent the agreement focused on trade in North America.