Essay on English: World Trade Organization and Free Trade Agreement

Submitted By Berhan123
Words: 1097
Pages: 5

General Agreement on Tariffs and Trade (GATT)

Countries involved:
- countries that had been allies during WWII
- Canada and the 22 countries
1) Brazil
2) Japan
3) India
4) Germany
5) France
6) Belgium
7) USA
8) And many more...

Also include 115 member states

Major Trade Items:
1) agriculture
2) Natural resources
3) Textiles
4) Clothing
5) Chlorine- bleached paper and non-chlorine bleached paper
6) And many more...

GATT was only for goods, WTO is for goods and services

Major Problems:
- GATT had rules and regulations about, but when parties went against it, this agreement didn't have any consequences or punishments
- contracting parties are not obligated to observe rules that are inconsistent with their domestic laws

- to help its members negotiate trade deals, resolve problems and collect data about world trade
- encourage economic growth
- international trade

North American Free Trade Agreement (NAFTA)

Countries involved:
Canada, USA and Mexico

- to eliminate barriers of trade and investment between Canada, USA and Mexico

Trade items:
1) Apples
2) Tabacco
3) Steel
4) Lumber

Major Problems:
- agreement gives the US and Mexico too much access to Canada's natural resources
E.g. minerals, lumber and this may lead to the gradual depletion of these resources

- Canada and Mexico are perceived to be taking jobs away from America

EFTA (European Free Trade Association)

1) Iceland
2) Norway
3) Switzerland
4) Lichtenstein

-To bring economic prosperity and growth among its members
-Single market in which all European countries can trade, buy, and sell in one currency
-less tariffs, taxes
- to produce co operation between countries
-to make ties better politically
- reflects goals of EEC - to integrate economies of all European countries into one big economy

Major Trade Items:
1) Fish
2) Seafood
3) Agriculture
4) Jewelry

1) transport

Major Problems:
- EFTA sets up joint committees to review and resolve differences between parties. In recent times however, the international trend is to add dispute settlements to forcefully bring agreements between countries
- most countries in the agreement all use the same currency, if that currency goes down, all value of goods go down as well.

The trade agreement between Canada and Israel was first signed by both the Canadian and Israeli officials on July 31, 1996 and came in affect on January 1, 1997. This agreement applies to the importers and expoters of goods detined to Israel from Canada, and from Canada to Israel. Canada now shares a strong cultural bond with Israel.

Which countries are involved?

What are the goals? reduce trade barriers and tariffs improve market access for agriculture food products eliminating tariffs on basically all industrial goods increase investments between the two countries

What are the major trade items?
Canada: grains, beef, maple syrup, sugar, frozen blueberries, wheat
Israel: cut roses, fresh cherry, tomatoes, baby carrots
Both sides have excluded dairy, poultry, and egg products

The agreement has an effect on social, political, and economical values, of the people of both countries
Economically it can harm the goods and services
Socially and politically each country may try to push their own policies to the other country
Canada or maybe even Israel may receive low quality products or materials


What countries are involved?
United states and central American countries of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua
In 2004, the Dominion Republic joined and was named CAFTA-DR

What are the goals? the goal of the agreement is the creation of a free trade area similar to NAFTA if passed by the countries involved, approximately 80% of USA exports to