North American Free Trade Agreement (NAFTA) has been the cornerstone of economic relations between the United States, Canada, and Mexico. Established in 1994, NAFTA aimed to eliminate trade barriers and promote economic growth among the three countries. However, not all countries in North America are part of this partnership. In this article, we will explore the question “which of the following countries is not a member of the North American Free Trade Agreement quizlet?”
Before we dive into the answer, let`s first understand what NAFTA is and its significance for the member countries. NAFTA is a trilateral trade agreement that created a massive free trade zone between the United States, Canada, and Mexico. It removes barriers to trade in goods and services, including tariffs, quotas, and other non-tariff barriers. It also provides protection for intellectual property rights and establishes dispute resolution mechanisms between the member countries.
NAFTA has been instrumental in boosting trade and investment among the three countries. It has allowed businesses to expand their markets and production facilities, leading to increased economic activity and job creation. Since NAFTA`s implementation, trade among the three countries has tripled, and investment has quadrupled.
Now, which of the following countries is not a member of NAFTA? The answer is Costa Rica. Costa Rica is a Central American country that is not part of the North American Free Trade Agreement. While it is a member of the Central American Free Trade Agreement (CAFTA-DR) with the United States, the Dominican Republic, and other Central American countries, it is not a member of NAFTA.
NAFTA has been a significant driver of economic integration and growth in North America. However, it is essential to acknowledge that the agreement has faced criticism, particularly in the United States. Some argue that it has led to outsourcing and job losses in certain sectors, while others contend that it has benefited only large corporations.
In conclusion, the question “which of the following countries is not a member of the North American Free Trade Agreement quizlet?” has a straightforward answer: Costa Rica. Understanding the significance of NAFTA and its impact on the member countries is crucial to comprehending the economic relations among North American countries. As a professional, it is essential to provide clear and concise information to readers, making it easy for them to find the answer to their questions.