Transparency issues in NAFTA: concerns and directions for free trade in an open environment
Journal of International Trade Law and Policy
ISSN: 1477-0024
Article publication date: 6 January 2004
Abstract
For any bilateral or multilateral trade agreement to be effective, it is imperative that transparency and good governance form the mainstay for achieving parity and trust amongst the partners. This article highlights pressing issues facing the partners of the North American Free Trade Agreement (NAFTA), analyzes some of the current areas of conflict and suggests action to reduce tensions and promote harmony, goodwill and cooperation. The legal framework for transparency and governance needs to be seen as fair in addition to providing a mechanism for the airing of grievances and resolving conflicts. The requirements include: disclosure of relevant information, reasons for appropriate policy enactment and application and provision of investor protection safeguards. Of special import is the dire need to deal with issues of corruption at all levels. It is recommended that a conference be held to discuss issues of transparency and accountability as an initial endeavour in understanding the dynamics involved.
Keywords
Citation
Bhasin, B.B. and Ramanujam, J. (2004), "Transparency issues in NAFTA: concerns and directions for free trade in an open environment", Journal of International Trade Law and Policy, Vol. 3 No. 1, pp. 37-51. https://doi.org/10.1108/14770020480000349
Publisher
:Emerald Group Publishing Limited
Copyright © 2004, Emerald Group Publishing Limited