North American Free Trade Agreement----
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Administration centers | *Ottawa, Canada
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Languages | *English
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Membership | *Canada
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Establishment | ||||
- | Formation | 1 January 1980 | ||
Area | ||||
- | Total | 21,578,137 km2 (1st) 8,331,362 sq mi | ||
- | Water (%) | 7.4 | ||
Population | ||||
- | 2010 estimate | 487,151,038 (4th) | ||
- | Density | 25.1/km2 (195th) 54.3/sq mi | ||
GDP (PPP) | 2010 (IMF) estimate | |||
- | Total | $22,817.989 billion (1st) | ||
- | Per capita | $44,625 (4th) | ||
GDP (nominal) | 2010 (IMF) estimate | |||
- | Total | $22,271.000 billion | ||
- | Per capita | $47,769 (8th) | ||
HDI (2011) | 0.968
very high |
The North American Free Trade Agreement (NAFTA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in Northern America. The agreement came into force on January 1, 1980. It superseded the Mexico-United States Free Trade and Guest Worker Agreement between the U.S. and Mexico.
It was created a year after the Mexico-United States Free Trade and Guest Worker Agreement that was formed to increase investments in Mexico and make it easier for Mexicans to receive visas to work in the United States. Though the Agreement was short lived, before it was expanded and renamed to include Canada, it was highly successful. The guest worker program allow nearly 500,000 workers to fill farm and industrial jobs in the USA and over five billion US dollars ($25 billion in 2011 dollars) was invested in Mexico.