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North American Free Trade Agreement is one of the most debated economic integration among trade blocs of the world. This FTA established for the first time in the economic integration history the vertical integration model. So there have been so many reviews about the economic effect of this trade bloc. Many analysis estimatesas positive the economic performance of the intra-bloc countries since it entered into effect. But the meaning of the positive valuation should be different for each nation of the bloc.This paper reviews the proper economy theory for NAFTA, and judges the performance of the FTA for the small country of the bloc, Mexico.