Trade Agreements Of Canada

Learn more about Canada`s trade and investment agreements: types of contracts and the gradual development of trade and investment agreements. For more information on how the procurement rules for different trade agreements may affect a particular contract or purchase measure, please see the following resources: Canada negotiates bilateral free trade agreements with countries and the following trading blocs:[7] Multinational companies that invest in Canada benefit in different ways from Canadian free trade agreements , of which: CAFTA`s main objective is to reach an ambitious multilateral trade agreement on the World Trade Organization (WTO). CAFTA believes that a multilateral trade agreement is the only way to fully address trade imbalances and all agricultural and food trade issues around the world. CaFTA continues to encourage the Canadian government to cooperate with other WTO countries to revive the WTO Doha negotiations. The North American Free Trade Agreement between Canada, the United States and Mexico came into force on January 1, 1994 and created the world`s largest post-GDP free trade region. Until 2014, NAFTA`s GDP was estimated at more than $20 trillion, with a market of 474 million people. [5] [6] Based on this success, Canada continues to negotiate free trade agreements with more than 40 countries and has free trade agreements, most recently with South Korea, Canada`s first free trade agreement with an Asia-Pacific partner. Since 2018, Canada has also concluded two other important multilateral trade agreements: the Comprehensive Economic and Trade Agreement (CETA) with the European Union and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) agreement with 10 other Pacific countries. [7] On September 21, 2017, CETA was provisionally implemented, immediately removing 98% of the EU`s customs positions on Canadian products. [8] Canada is currently the only G7 country to have free trade agreements with all other G7 countries. Free trade with the last G7 country, Japan, began with the entry into force of the CPTPP on 30 December 2018.

Canada is currently conducting exploratory discussions on bilateral or multilateral free trade agreements with the following countries and trade blocs, although formal negotiations have not yet begun: [7] Canada`s total trade with NAFTA countries has been valued at $788 billion, or 66.8% of Canada`s total world trade in 2018. Among the most exporting industries were the automotive industry and natural resources. Canada is regularly referred to as a trading nation, with total trade accounting for more than two-thirds of its GDP (the second highest level in the G7 after Germany). [1] [2] Of all of this trade, approximately 75% are wiretapped with countries that are part of free trade agreements with Canada, particularly with the United States through the North American Free Trade Agreement (NAFTA). [3] At the end of 2014, bilateral trade in Canada reached $1 trillion for the first time. [4] Learn about Canada`s trade policy and key trade priorities, including how access to foreign markets is essential to our prosperity.