Main differences between NAFTA and the EU. The full form of NAFTA is a North American free trade agreement, while the full state of the EU is the European Union. NAFTA members in its treaty, while EU countries. In NAFTA, the three countries have three different currencies that people use, and, according to the Commission, the negotiations around the Eastern and Southern African countries aim to deepen the existing EPAs. The European Commission has published a report summarizing progress made during the latest round of negotiations aimed at deepening the existing Economic Partnership Agreement with five countries in Eastern and Southern Africa. The United States-Mexico-Canada agreement, the USMCA, which replaces the old NAFTA, contains as expected a chapter on the environment, C, to be precise. Experience from previous trade agreements suggests that the greatest environmental effects come from provisions contained in the areas of investment and agriculture. NAFTA remains a purely economic agreement between three countries, while the EU has become a political, social and territorial union. Other key differences between NAFTA and the EU include: Freedom of movement: While both treaties aim to eliminate trade barriers between member states, the EU has become an agreement. U.S. law is considered an agreement between Congress and the executive branch under international law. » Bergstrand, 1989 NAFTA is the largest free trade area in the world. This has enhanced the economic growth of citizens and improved their standard of living. Moreover, this trading bloc is recognized by the world as a stable base. This creates a three-way trading bloc in North America. The deal was done. The trading bloc is the largest in the world. The European Union The EU is an economic and political union made up of member states located primarily in Europe. Its de facto capital is Brussels. The members of NAFTA are the United States, Canada and Mexico, with a combined population of one million and a total GDP of, Pohlmann, 2006. NAFTA aimed to completely eliminate trade barriers between members , which should be. It also reduces non-tariff trade barriers such as sanitation. NAFTA was a free trade agreement between the United States, Mexico and Canada. It was designed to increase economic growth and investment by removing barriers to trade between the three countries. The European Union The EU is an alliance of European nations that eliminates border controls between member countries. He created a summary. STATISTICAL SUMMARY OF LATIN AMERICA. page VIII, PART IX. in Part B. Comparison of emerging global trading blocs, NAFTA and the European Union. Author Olga M Lazin Objectives of FTAs, economic. The North American Free Trade Agreement, NAFTA, was an economic free trade agreement between Canada, the United States and Mexico. Designed to eliminate all trade and investment barriers between the three countries, the free trade agreement came into force. In addition to being one of the most ambitious trade agreements,