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The Importance of a Successful NAFTA for the United States Economy In this new millennium international trade and commercial relations are growing more quickly than world national economies This area of growth is expected to be the source of economic prosperity for all nations Governments worldwide are recognizing the importance of creating trade alliances and lower trade barriers and tariffs The goal of these actions is to foster the deepening of economic integration among countries while at the same time safeguarding national sovereignty Orme P48 As a result many governments are now signing free-trade zone agreements and are realizing the potential strengths of their large markets The North American Free Trade Agreement agreed upon by Canada Mexico and the United States is one of strongest and most important agreements ever negotiated NAFTA goes beyond just removing trade barriers it is an agreement to integrate two developed nations and one developing nation and their economies NAFTA is successful more so than the European Union Mercosur or any Asian agreement because of the unquestionable dominance of the United States and the roles each nation plays The United States is a technology advanced prosperous and economically diverse country with a large population Canada is a prosperous resource and technology based country with a small population and Mexico is a developing country with a large labor base and a rapidly growing population Welcome P12 Each nation is important for the success of NAFTA and the North American economic integration The North American integration is not something that was quickly started after the 1994 signing of the North American Free Trade Agreement The integration has been a work in progress since the end of World War II and would have continued even if NAFTA were not ratified NAFTA is not a history changing agreement but a tool which can manage the ongoing integration in an efficient and organized manner It is because of the historic cooperation among these nations
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