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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...

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...

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...

General Agreement on Tariffs and Trade

(Encyclopedia)General Agreement on Tariffs and Trade (GATT), former specialized agency of the United Nations. It was established in 1948 as an interim measure pending the creation of the International Trade Organiz...

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...

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