GEOG 3 Lecture Notes - Lecture 28: Mercosur, Foreign Corporation, Andean Community
29 Jul 2020
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Document Summary
The growth in international trade and foreign investment in the region, in part the result of saps, has been joined by growth in regional free trade agreements. Such agreements reduce tariffs and other trade barriers among a group of neighboring countries. The two largest free trade agreements within the region are nafta and. The 1994 north american free trade agreement (nafta), established a free trade bloc consisting of the us, mexico, and canada, and containing more than 450 million people. The main goal of nafta is to reduce barriers to trade, thereby creating expanded markets for the goods and services produced in the three countries. Unasur, a union of south american nations, was organized in may of 2008; it supersedes mercosur and the andean community of nations, two previous customs unions. Unasur appears to want to emulate the european union by having a common passport, a parliament, and a single currency by 2019.
