A group of nations smaller than the World Trade Organization (WTO) but still committed to fostering trade and boosting cross-border investment is the ________.
A) North American Free Trade Agreement (NAFTA)
B) European Union (EU)
C) Organization of Petroleum Exporting Countries (OPEC)
D) both A and B

Question

Quizplus · Accepted Answer

Both NAFTA and the EU are examples of regional trade agreements or economic blocs that are smaller than the WTO but still work towards increasing cross-border trade and investment within their respective regions. OPEC is not a trade agreement but rather a group of countries that work together to stabilize oil prices and protect the interests of oil-producing nations.

A Group of Nations Smaller Than the World Trade Organization