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Section 3

Important International Bodies and Agreements

Book Version 3
By Boundless
Boundless Marketing
Marketing
by Boundless
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The North American Free Trade Agreement (NAFTA)

NAFTA is a 1994 agreement to removes taxes on products traded between North American countries (US, Canada and Mexico).

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The European Union (EU)

The European Union (EU) was established in November 1993 and is an economic and political union of 27 member states.

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The Common Market of the Southern Cone (MERCOSUR)

Mercosur is an economic and political agreement among Argentina, Brazil, Paraguay, Uruguay, and Venezuela created in 1991 to promote free trade.

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The Asia-Pacific Economic Cooperation (APEC)

APEC is a forum for 21 Pacific Rim countries that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region.

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The World Trade Organization (WTO)

The WTO was formed in 1995 and has 157 member countries working together to supervise and liberalize international trade.

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