product (GDP) of US$ 12 trillion, or one third of the world's total GDP. Thethree countries have enjoyed a burgeoning relationship stemming from their decision to open doors and break down barriers. Markets continue to openup to a freer flow of goods, services and investments, and the economies are becoming more integrated than ever.
Objectives of NAFTA:
a)Eliminate barriers to trade in, and facilitate the cross-border movement of, goods and services between the territories of theParties; b)Promote conditions of fair competition in the free trade area;c)Increase substantially investment opportunities in the territories of theParties;d)Provide adequate and effective protection and enforcement of intellectual property rights in each Party's territory;e)Create effective procedures for the implementation and application of this Agreement, for its joint administration and for the resolution of disputes; andf)Establish a framework for further trilateral, regional and multilateralcooperation to expand and enhance the benefits of this Agreement.
Labour Policies and the Environment:
The economic integration promoted by NAFTA has spurred better environmental performance across the region. Through the
North AmericanAgreement on Environmental Cooperation
, the three partners are promoting the effective enforcement of environmental laws.Through the Commission for Environmental Cooperation (CEC),which was created from the NAFTA, all three countries have benefited fromcoordination which is increasing the effectiveness of North Americanconservation efforts by:- Developing common priorities for the protection of certain species- Developing North American Conservation Action Plans for three sharedmarine species- Providing tools such as a map of terrestrial eco regions which managementagencies are using in their programs