Free Trade Agreements

Free Trade Agreements

The original intent of free trade agreements was to maintain policies in which governments do not discriminate against imports or interfere with exports, but do not necessarily abandon all control or taxation of these. Some of the most popular agreements include: the proposed FTAA, NAFTA, and DR-CAFTA.

However, the reality of free trade agreements, as informed by their track records, is one where deregulated markets have only generated

  • corporate ascendancy,
  • erosion of the common wealth and democratic governance, and
  • a lack of public accountability.

These trends have undermined the sovereignty of nations and the economic stability of millions of workers.

Multilateral

Multilateral trade agreements are among multiple countries but, UFE has found, typically favor the right of transnational corporations to maximize their profits.

Keywords: FTAA, NAFTA, DR-CAFTA, expropriation

Bilateral

Due to effective mass mobilization against multilateral agreements, the rise of bilateral trade agreements, which are between two countries, has come to the forefront. The shift to bilateral agreements, we have found, is characterized by limited economic integration and by domination by the more developed nation.

Bilateral agreements typically do not address foreign subsidies which create oversaturated foreign markets and drown the development of many struggling nations.


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