Mexico: NAFTA — the North American Free Trade Agreement
2011/05/31
NAFTA — the North American Free Trade Agreement — is a comprehensive, groundbreaking free trade and investment agreement which took effect on 1 January 1994, involving the governments of Canada, Mexico and the USA.
It is an expansion of the 1989 Canada-US Trade Agreement (CUSTA) and is seen as a landmark in setting higher standards in a range of areas, including agriculture, investment, intellectual property, and services.
NAFTA, dubbed a “death sentence” for Mexico’s campesinos and Indigenous Peoples, has led to strong and sustained resistance from a broad spectrum of Mexico’s population. It was one of the catalysts for the Zapatista uprising. Since it came into effect, cheap, subsidized US corn has flooded the market, sold at prices below the cost of production, with which campesinos cannot compete. This has led to massive displacement, poverty, and hunger.
NAFTA disputes - in which an investor from one signatory country can sue the government of another signatory country for actions or omissions which it claims to interfere with its right to make a profit - have raised concerns about the way in which the agreement furthers the interests of transnational corporations, and limits the capacity of governments to regulate the economy for social, environmental or other reasons.
On 1 January 2008, the last agricultural tariffs were eliminated under NAFTA and small farm organizations in Mexico declared “all-out war” on the trade agreement, arguing that the country’s food sovereignty and security are in peril. Massive peasant demonstrations against NAFTA were held throughout Mexico in early 2008.
NAFTA was a key focus of the US 2008 presidential campaign debates, with Barack Obama calling for its renegotiation. However, it is not at all certain that this will actually happen under the new administration.
- Related Articles
-
IMF Data & Forecasts
2011/08/11 2010 2015 Scale Units GDP at constant prices 8692.83 10886.42 Billions -
Most of Mexico ’s electricity generation comes from conventional thermal sources, chiefly natural gas.
2011/03/27 Electricity Most of Mexico ’s electricity generation comes from conventional thermal sources, chiefly natural gas. -
Natural Gas Mexico ’s natural gas consumption is rising primarily due to greater use of the fuel in power generation.
2011/03/27 According to OGJ, Mexico had 13.2 trillion cubic feet (Tcf) of proven natural gas reserves as of January 2010. According to Pemex, the Southern Region of the country contains the largest share of proven reserves. However, the Northern Region will likely be the center of future reserves growth, as it contains almost ten times as much probable and possible natural gas reserves as the Southern Region. -
Forecast for Mexico's Oil Production
2011/03/27 Oil Mexico is one of the top three sources of U.S. oil imports. According to the Oil and Gas Journal (OGJ), Mexico had 10.4 billion barrels of proven oil reserves as of January 1, 2010. Most reserves consist of heavy crude oil varieties, with a specific gravity of less than 25° API. The largest concentration of reserves occurs offshore in the southern part of the country, especially in the Campeche Basin.
-
- Mexico News
-
- ISRAEL: Netanyahu to pioneer new diplomatic grounds in Latin America
- AFGHANISTAN: UNWTO: International tourism – strongest half-year results since 2010
- NORTH KOREA: Mexico expels North Korean ambassador over nuclear tests
- CANADA: U.S. trade rep says in NAFTA talks he keeps Trump's views in mind
- CHINA: China Invites 5 Countries As Guests For BRICS Summit
- CANADA: Why Mexico, Canada can discount Trump’s remarks on NAFTA?
- Trending Articles
-
- CHINA: Life after Rosneft deal: CEFC ambitions face debt, regulatory hurdles
- SOUTH AFRICA: KPMG's South Africa bosses purged over Gupta scandal
- TANZANIA: Critic of Tanzania's Magufuli moved to Kenya for treatment of gunshot wounds
- CHINA: BRICS countries considering own cryptocurrency as settlement mechanism
- CHINA: Former Fed official Fisher: China could be the key to solving the North Korea crisis
- FRANCE: Aluminium-Lithium Alloys Fight Back