Free Trade Agreements.

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Presentation transcript:

Free Trade Agreements

Free Trade Agreements Why Bother?

International Institutions - WTO  Predecessor of GATT  Mission to increase and facilitate free and fair trade  164 Members  Common Rules on Trade Related Issues  Binding Decisions  Enforcement through Ostracism and Diplomatic Pressure - IMF - World bank

Trade Agreements - Free Trade Area Elimination of Tariffs and Quotas - Customs Union Common External Tariff and Quota System - Common Market Free Movement of Capital, Labor, and Goods - Economic Union Harmonization of Economic and Social Policies

Trading Blocks  NAFTA  EU  MERCOSUR  CEFTA  ASEAN CARICOM ANDEAN COMMUNITY SICA

North American Free-Trade Area (NAFTA) Canada United States Mexico

European Union