Last week, we took a break from the local setting to give coverage to recent developments in trade between the United States, Mexico and Canada. We refer to the North American Free Trade Agreement (NAFTA) which is being replaced by the United States-Mexico-Canada Agreement (USMCA). We outlined key provisions of NAFTA which critics argue was influenced by large multinational corporations in pursuit of higher profits thereby undermining U.S. jobs and manufacturing capability through the relocation of factories in Mexico and the use of cheaper Mexican labour.
We also stated that the changes being made in the new agreement may provide important lessons for the Caribbean Single Market and Economy (CSME) of which Guyana is a member. In today’s article, we conclude our discussion on the subject.
