Canada is a country that has long been engaged in the global economy, and its free trade agreements (FTAs) have played a crucial role in its economic growth. These agreements have been negotiated with countries all around the world, including the United States, Mexico, Israel, South Korea, and many others.
Canada`s free trade agreements have been designed to eliminate barriers to trade between participating countries, including tariffs, quotas, and other obstacles that can make it difficult for businesses to trade with one another. These agreements have helped to increase Canadian exports, create jobs, and strengthen the country`s overall economic position.
One of Canada`s most well-known free trade agreements is the North American Free Trade Agreement (NAFTA), which was signed in 1994 by Canada, the United States, and Mexico. NAFTA eliminated tariffs on most goods and services traded between the three countries, and it has been credited with boosting trade and investment between them.
In addition to NAFTA, Canada has signed many other free trade agreements with countries around the world. For example, the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) was signed in 2016 and has increased trade between Canada and the EU by eliminating tariffs on many products and services.
Other notable free trade agreements that Canada has signed include the Canada-Korea Free Trade Agreement (CKFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Canada-Israel Free Trade Agreement (CIFTA). Each of these agreements has its own unique provisions and benefits for Canadian businesses and consumers.
Overall, Canada`s free trade agreements have been a significant driver of economic growth and opportunity for the country. By reducing barriers to trade and increasing market access for Canadian businesses, these agreements have enabled Canada to compete on a global scale and secure its place in the global economy. As such, the country is always looking for new opportunities to negotiate and sign free trade agreements with other countries in the future.