Essay: Trade is an Essential Element
Trade is an essential element not only for individuals but also for the governments of all nations for enhancing economic growth. The present methods and routes of trade are by far better that those of the early 16th century given the fact that there is now a wider market from which trading can take place.
However, despite the availability of reliable communications and transport networks there should be increment of trade unions, which ensures that there are favorable terms and conditions of trading amongst the members. For instance, The North American Free Trade Agreement (NAFTA) has attracted many investors as a result of elimination of trade tariffs and the subsequent low cost of trading. Consequently, the member countries have been able to get surplus goods and services that has been the secret behind their positive economic development.