GK
WORLD GEOGRAPHY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The major reason the Mexican Government strongly supported the North American Free Trade Agreement (NAFTA) was that this agreement would?
|
|
raise tariffs on United States products entering Mexico
|
|
|
reduce Mexico’s economic dependence on Europe
|
|
|
promote investment and economic growth in Mexico
|
|
|
stimulate trade between Asia and Latin America
|
Explanation:
Detailed explanation-1: -Foreign investment increased greatly following the passage of NAFTA, with billions of dollars yearly being invested in Mexico. This foreign investment manifested in an increase in manufacturing as a share of Mexican exports, with exports to the United States increasing to 88.66 percent of Mexican exports by 2001.
Detailed explanation-2: -The agreement came into force on January 1, 1994. The goal of NAFTA is to eliminate all tariff and non-tariff barriers of trade and investment between the United States, Canada and Mexico.
There is 1 question to complete.