The W. Hemisphere Pact is a term used to refer to two major international agreements: the North American Free Trade Agreement (NAFTA) and the Organization of American States (OAS). NAFTA was signed in 1994 and is an agreement between Canada, the United States, and Mexico that seeks to reduce trade barriers between the three countries. The OAS was founded in 1948 and is an intergovernmental organization that promotes democracy, human rights, and economic development in the Americas. Both NAFTA and the OAS are important components of the W. Hemisphere Pact, which has helped to foster cooperation and collaboration between countries in the Western Hemisphere.