The EU and NAFTA were established to achieve economic benefits through regional organization.
The creation of the European Union (EU) and the North American Free Trade Agreement (NAFTA) were efforts to attain economic benefits through regional organization.
The European Union, formed after World War II, aimed to tie European economies closely to avoid conflicts. It evolved from a free trade association to a full economic union with shared currency and mobility of goods and labor.
Similarly, NAFTA, established in 1993, sought to eliminate trade barriers between the United States, Canada, and Mexico, enhancing economic cooperation and benefits within the region.
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