In What Areas Are There Nafta Side Agreements

The North American Free Trade Agreement (NAFTA) is an agreement between the United States, Canada, and Mexico that aims to promote free trade and economic cooperation between the three countries. NAFTA was signed in 1994 and has been one of the most significant trade agreements in history. However, many people are unaware of the side agreements that were included with NAFTA. In this article, we will explore the areas in which there are NAFTA side agreements.

Labor

One of the main side agreements to NAFTA is the North American Agreement on Labor Cooperation (NAALC). This agreement aims to protect the rights of workers in all three countries by ensuring that labor laws are upheld and enforced. The NAALC allows for citizens of any NAFTA country to file complaints about labor rights violations, which are then investigated by a specialized labor office in each country.

Environment

Another important side agreement to NAFTA is the North American Agreement on Environmental Cooperation (NAAEC). This agreement aims to protect the environment by promoting sustainable development and environmental protection in all three countries. The NAAEC allows for citizens of any NAFTA country to file complaints about environmental violations, which are then investigated by a specialized environmental office in each country.

Intellectual Property

NAFTA also includes a side agreement on intellectual property rights called the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). This agreement establishes minimum standards for the protection and enforcement of various types of intellectual property, including patents, trademarks, and copyrights.

Investment

NAFTA also includes a side agreement on investment called the North American Agreement on Investment (NAFTA). This agreement aims to promote investment between the three countries by providing protection and security to investors. This is done by establishing clear rules for investment and providing a dispute resolution mechanism to resolve investment disputes.

Conclusion

In summary, NAFTA includes several side agreements aimed at protecting labor rights, environmental standards, intellectual property, and investment between the three countries. These agreements have helped to create a more stable and predictable trading environment between the United States, Canada, and Mexico. As NAFTA continues to evolve and change, it will be important to ensure that these side agreements are updated and maintained to reflect new challenges and opportunities in the global economy.