Multinationals investing in Canada benefit in different ways from Canada`s free trade agreements, including: Learn more about Canada`s trade and investment agreements: types of contracts and how trade and investment agreements are gradually developing. Canada`s Free Trade Agreement (FTA), Foreign Investment Promotion and Protection Agreement (FIPA) and multilateral agreements and initiatives. 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] Which country gives you access to 1.5 billion consumers in 51 countries? Canada. In terms of access to the global market, things are not improving. With 14 free trade agreements covering 60% of global GDP, Canada is opening doors to cross-border growth. 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. Assessing the impact of trade agreements on the environment, including the framework and process. Discover new ways to expand your international presence. Canada`s broad (and growing) commercial network provides Canadian businesses with preferential access to various markets around the world.