The European Union 's Trade Regulation Essay

1011 Words Nov 16th, 2016 5 Pages
The European Union’s trade regulation, set between the countries that are within the EU, entitles all the countries within the EU to trade without any barriers in place this affects all member states. However, NAFTA on the other hand is strictly an agreement that is set between Mexico, United States, and Canada. NAFTA stands for North American Free Trade Association; this had been created in the year 1988. One of the main points that will be covered in this assignment will be how these organisations are important to businesses that trade internationally and what affects they have for them. European Union’s regulation of trade makes it easier and simpler for EU nations to trade with each other. As well as this, it enforces laws on the environment, human rights and labour rights. This makes sure that any trade that is taking place is morally, and ethically right. What NAFTA and The European union have in common is that both of the unions have the same aim and goals, which are to reduce barriers that are in place between countries when trading. This is carried out by waiving taxes off goods that affect them both. (Weiler, 2001)
Similarities of both unions are that both are in favour of reducing barriers and taxes that businesses have to pay to trade internationally. What this means is that they both want to stabilize the economy and help create more revenue flowing into the economy by allowing businesses to maximize their profits. These unions are important as what ever a…

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