Page Count: 2
Length: 519 Words

The European Union is a group of democratic European countries working together for peace and prosperity (Hill; The, 2005). Its forerunner, the European Coal and Steel Community, was formed in 1951 by Belgium, France, West Germany, Italy, Luxembourg and the Netherlands to remove barriers to intragroup shipments of coal, iron, steel and scrap metal. The European Union now consists of 25 countries. It originally dealt with trade and the economy, but now also covers citizen's rights; ensuring freedom, security and justice; job creation; regional development; environmental protection; and making globalization work for all.

The North American Free Trade Agreement (NAFTA) is an agreement entered into by the governments of the United States, Canada and Mexico in 1991

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Category: Economics - E

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