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North American Free Trade Agreement

(Encyclopedia)North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAF...

free trade

(Encyclopedia)free trade, in modern usage, trade or commerce carried on without such restrictions as import duties, export bounties, domestic production subsidies, trade quotas, or import licenses. The basic argume...

reciprocal trade agreement

(Encyclopedia)reciprocal trade agreement, international commercial treaty in which two or more nations grant equally advantageous trade concessions to each other. It usually refers to treaties dealing with tariffs....

trade

(Encyclopedia)trade, traffic in goods. Conducted by gift, barter, or sale, trade is one of the most widespread of all social institutions. The theory of commerce as imposed by the national state has varied from...

monetary agreement

(Encyclopedia)monetary agreement, attempt by two (bilateral) or more (multilateral) nations to regulate and coordinate their financial relations by treaty. The objectives are usually to promote trade by facilitatin...

Schengen Agreement

(Encyclopedia)Schengen Agreement shĕngˈən [key], agreement signed in 1985 in Schengen, Luxembourg, by several European Community (now the European Union; EU) to establish a mutual visa policy that would permit f...

Central American Common Market

(Encyclopedia)Central American Common Market (CACM), trade organization envisioned by a 1960 treaty between Guatemala, Honduras, Nicaragua, and El Salvador. The treaty established (1961) a secretariat for Central A...

European Free Trade Association

(Encyclopedia)European Free Trade Association (EFTA), customs union and trading bloc; its current members are Iceland, Liechtenstein, Norway, and Switzerland. EFTA was established in 1960 by Austria, Denmark, Great...

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