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US hails success of NAFTA trade deal
United States
Sunday 06 January 2008
Acting US agriculture secretary Chuck Conner has revealed that the US' free trade deal with Mexico and Canada has almost tripled its agricultural exports to the countries over the past 14 years.
Mr Conner claimed that the North America Free Trade Agreement (NAFTA) had been of the most successful trade deals in US history, in the week the agreement was fully implemented.
"Since its inception in 1994, NAFTA has been a remarkable success story for all three partners. It has contributed to significant increases in agricultural trade and investment between the US, Canada and Mexico and has benefited farmers, ranchers and consumers throughout North America," he said.
In 1994, the US' combined agricultural exports to Canada and Mexico totaled US$10.1bn. These are expected to reach US$28bn this year.
Mr Conner said that since the agreement's implementation, two-way agricultural trade between the US and Canada had risen from US$10.4bn to US$30.4bn. Between the US and Mexico, this trade increased from US$5.9bn to US$24bn.
He added that the "positive lessons" from NAFTA had helped the US cement trade deal with a number of other regional countries, including Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Peru, while agreements with Colombia and Panama were awaiting congressional approval.
Mr Conner claimed that the North America Free Trade Agreement (NAFTA) had been of the most successful trade deals in US history, in the week the agreement was fully implemented.
"Since its inception in 1994, NAFTA has been a remarkable success story for all three partners. It has contributed to significant increases in agricultural trade and investment between the US, Canada and Mexico and has benefited farmers, ranchers and consumers throughout North America," he said.
In 1994, the US' combined agricultural exports to Canada and Mexico totaled US$10.1bn. These are expected to reach US$28bn this year.
Mr Conner said that since the agreement's implementation, two-way agricultural trade between the US and Canada had risen from US$10.4bn to US$30.4bn. Between the US and Mexico, this trade increased from US$5.9bn to US$24bn.
He added that the "positive lessons" from NAFTA had helped the US cement trade deal with a number of other regional countries, including Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Peru, while agreements with Colombia and Panama were awaiting congressional approval.
