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MANAGING MULTINATIONAL COMPANY - Coggle Diagram
MANAGING MULTINATIONAL COMPANY
North American Free Trade Agreement (NAFTA)
It is enacted in 1994 and created a free trade zone for Mexico, Canada, and the United States, is the most important feature in the U.S.-Mexico bilateral commercial relationship.
Benefits
Increased Trade
Intellectual Property Protections
Increased competitiveness of U.S. industry
Opened up opportunities for small businesses
Implemented universal, higher health, safety, and environmental standards
World Trade Organization (WTO)
Created in 1995, the World Trade Organization (WTO) is an international institution that oversees the rules for global trade among nations. It superseded the 1947 General Agreement on Tariffs and Trade (GATT) created in the wake of World War II.
Benefits
Export diversification
Transparent, predictable and attractive investment regime
Reduction of trade barriers
Increased competitiveness by eliminating unfair practices
Most favoured nation treatment
European Union (EU)
The European Union (EU) is a political and economic alliance of 27 countries. The EU promotes democratic values in its member nations and is one of the world's most powerful trade blocs. Nineteen of the countries share the euro as their official currency.
Benefits
Free movement of labour, goods, services and capital
Stronger competition and a drive for innovation
Easier access to financial institutions and funds within the EU
No customs or quantitative restrictions within the EU
Mutual certification of goods
Association of Southeast Asian Nations (ASEAN)
The Association of Southeast Asian Nations (ASEAN) is a regional organization of 10 Southeast Asian and Pacific Rim countries whose governments collaborate to promote socio-cultural, economic, and political advancement in the region.
Benefits
Lower cost of living
Better jobs and quality of life
Working and studying abroad
Easier travel
Promote and expand regional production sharing and network
