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NAFTA
NAFTA, which entered into force in 1994, has been credited with increasing trade and investment between the United States and Mexico. NAFTA has also led to increased competition in both countries, which has resulted in lower prices for consumers. In addition, NAFTA has made it easier for businesses to expand into new markets, which has created jobs in both countries.
GATT
The GATT was a multilateral agreement that aimed to reduce tariffs and other trade barriers. The GATT was succeeded by the WTO in 1995. GATT also helped to reduce trade barriers between the United States and Mexico. As a result of GATT, businesses in both countries were able to export their goods more easily, which boosted the economies of both countries.
WTO
The WTO is a multilateral agreement that aims to promote free trade among its member countries. The WTO has succeeded in reducing trade barriers between the United States and Mexico, which has increased trade and investment between the two countries. WTO membership allowed both the US and Mexico to negotiate on global economic policy and strengthen its influence of economic issues at the global level.
In addition to these agreements, the United States and Mexico have also benefited from a number of other cooperative arrangements, such as the Border Environment Cooperation Commission (BECC) and the North American Development Bank (NADBank). These cooperative arrangements have helped to address environmental and infrastructure challenges along the border, which has improved the quality of life for people in both countries.
Overall, the United States and Mexico have benefited from a number of agreements and cooperative arrangements that have increased trade and investment, reduced trade barriers, and improved the quality of life for people in both countries.