Compare And Contrast The European Union And Nafta. In Your View, What Are The Prospects For Nafta Evolving Toward Much Closer Economic And Political Integration, Along The Lines Of The Eu?

Running head : COMPARE AND CONTRAST THE EUROPEAN essence AND NAFTAIntroductionThe European Union (EU ) and the North American Free change over Agreement (NAFTA ) be bodies which were primarily formed with the aim of alter the economies of the member states and promoting free cover within these areas . As a consequence of closer ties , the European Coal and Steel community (ECSC , the precursor of the EU , developed into a policy-making and economical union with the signing of the Maastricht treaty in 1993 This treaty change the ECSC into the EU and paved the way for common business offices on policy-making , economic and social issues . As a consequence , a common currency was introduced and a European parliament with in a higher place national powers came into being .

It has at present 27 European member states as its members with at least 7 to a greater extent waiting for admissionNAFTA was formed as an economic free trade area union between the three states of America , Canada and Mexico in 1993 . Its basic aims were to promote trade between the three states by reducing trade barriers amongst them . Presently there are no plans to develop closer political ties or introduce political reforms that will lead to a common political position or currency for the regionThe common factors between the two bodies are the concept of promoting greater trade by reducing the barriers that experience between them . By adopting common tariffs and abolishing taxes on certain goods , the EU and NAFTA have encouraged trade among themselves . They have also introduced...If you demand to get a full essay, order it on our website: Orderessay

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