A good example of a Free Trade Agreement is the North American Free Trade Agreement (NAFTA). NAFTA was signed among 3 countries – the United States of America, Mexico, and Canada. You can read about the WTO – World Trade Organization – History, Functions, Conferences, Dispute Settlement in the given link.
By Gross Domestic Product (GDP), NAFTA became one of the largest trade blocs in the world. This Free Trade Agreement became effective from 1st January, 1994.
Further readings:
- India and the WTO – An Overview of Latest Developments
- India – US Trade Relations: RSTV – Big Picture Analysis for UPSC IAS exam
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