1. EPF9 The student will demonstrate knowledge of the
global economy

2. Trade Agreements and WTO
 International trade agreements such as the North
American Free Trade Agreement (NAFTA) have
tended to reduce trade barriers.
 Likewise, the World Trade Organization (WTO) seeks
freer trade among nations.

4. Purpose of Trade Agreements
 Trade agreements establish rules about trade that
all parties agree to.
 These agreements have generally reduced the barriers
to trade.

6. Purpose of NAFTA
 The North American Free Trade Agreement (NAFTA)
established a free-trade zone (Canada, Mexico, and
the United States) with the intention of:
 eliminating trade barriers,
 promoting fair competition,
 and increasing investment opportunities.

8. Role of WTO
 The World Trade Organization (WTO):
 administers trade agreements,
 handles disputes,
 and provides a venue for negotiating among its
member nations.

10. European Union:
 The European Union (EU) is a regional trade
organization formed to promote trade among
countries in Europe by reducing trade barriers and
adopting a common currency, the euro.