NAFTA and Nearshoring

One of the most recent debate themes has been the NAFTA (North American Free
Trade Agreement). It has been around for a while, since 1994, do you remember
what it is about?

Basically, the NAFTA basically lifts taxes on exports and imports on virtually all goods
traded between the US, Mexico, and Canada, with the purpose of making business
easier for companies across the three countries. It was signed in ‘92 but came into
effect in ’94.

The consequences have been positive and negative, it all depends on whom you ask.
For example, in the field of nearshoring, we find testimonies like the one of Denis
Baker’s, Nearshore Blog. In an article he ponders about the NAFTA effect: "[it] has
helped us all become culturally closer, which is important in our industry, in the
technology market”.

Sharing both culture and knowledge is an important factor that makes nearshoring
very helpful for industries in a wide variety of fields. From technology to business
development and more, companies around the world trust nearshoring. Thanks to
the NAFTA, the feeling continues growing.

Although we're still living its effects and recently renegotiating its conditions, we can
assure one thing: it has changed the market for all three countries forever.