Tag Archives: tariffs

Barrier to entry

Barrier to entry refers to various obstacles, both formal and informal that prevent potential participants from entering an economy or marketplace. Formal barriers could be taxes/tariffs and informal barriers could be cultural differences.

North American Free Trade Agreement (NAFTA)

NAFTA took effect on January 01, 1994 and marks its 20th anniversary this year. NAFTA agreement is executed between the governments of Canada, Mexico and United States in San Antonio, Texas.

ASEAN Free Trade Area (AFTA)

AFTA concord was signed in Singapore in 1992 and has 10 countries, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. These countries have also formed an association known as ASEAN – Association of South East Asian Nations.