Global business as it pertains to our topic describes changes in the world economy that result from a dramatic increase in international trade and cultural exchange. This article will analyze the role of NAFTA (North American Free Trade Agreement) in promoting global business. In addition to NAFTA, regional integrations such as: EU, APEC, ASEAN, CAFTA or others can be discussed for the purpose of comparing advantages and disadvantages of regional integration. The economic development stages of countries within NAFTA (United States, Canada and Mexico) and any ramifications of NAFTA development for global business will also be discussed. NAFTANAFTA is an agreement between Canada, the United States and Mexico that took effect on January 1, 1994, designed to increase the scope of free flow of trade and investment between these three countries. It includes measures to eliminate tariffs and non-tariff barriers to trade, as well as many more specific provisions regarding the conduct of trade and investment that reduce the scope of government intervention in the management of trade. NAFTA's role in promoting global business. Regional integration is a formation of closer economic ties between countries geographically close to each other, especially through the formation of preferential trade agreements. On the other hand, regional integration also refers to an outcome that occurs when pre-established criteria are met. Over the past twenty years we have seen an increase in the number and depth of regional integration agreements around the world. Over 40% of world trade occurs under regional integration agreements such as the European Community and NAFTA, and new or expanded agreements continue to be negotiated. A regional integration agreement represents...... central part of the document...... benefits for both regional integration and globalization. ReferencesHodlers, H.D. (2006) NAFTA Help Tutorial Retrieved January 19, 2006, from http:// www.brainmass.com/homeworkhelp/economics/internationaltrade/16456Jackson, J. (1997) More than 400,000 jobs lost in the aftermath , the media continues to sell NAFTA. FAIR (fairness and accuracy in reporting). Retrieved January 19, 2006, from http://www.fair.org/index.php?page=1396Wayne, A. (2004) Assistant Secretary for Economic and Trade Affairs Testimony before the Subcommittee on International Economic Policy, Export and Trade PromotionCommittee on Foreign Relations of the Senate. Retrieved January 19, 2006, from http://www.state.gov/e/eb/rls/rm/31645.htmWoodhead, G. (2000) NAFTA's 7 Year Itch. Retrieved January 19, 2006, from http://www.citizenstrade.org/pdf/nafta_at_seven.pdf#search='nafta%20benefits%20advantages'