Canada Current Free Trade Agreement

Multinationals investing in Canada benefit in different ways from Canada`s free trade agreements, including: Global Free Trade Rules Unlike the TIA, CFTA rules automatically apply to almost all sectors of economic activity in Canada, with clearly established exceptions. This change fosters innovation because new goods and services, such as the sharing economy or clean technologies, are covered by rules designed to support Canada`s long-term economic development. Data on Canada`s international merchandise trade with countries and groups of countries participating in a free trade agreement with Canada are also released today. These agreements can be at different stages of negotiation, from discussions to existing agreements. 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 CPTP on 30 December 2018.

Canada is currently engaged in various bilateral and multilateral free trade agreements (FTAs) with countries around the world. Here are Canada`s latest free trade agreements: Fourteen free trade agreements have been ratified by the Canadian government and are currently in force. Together, these agreements represented $507.8 billion in imports and $533.7 billion in exports in 2018, representing a net export surplus of $25.9 billion. By comparison, in the same year, Canada`s total imports with the world were $596.0 billion, while total exports were $584.1 billion, representing a net export deficit of $11.9 billion. Alignment with International Commitments GASTA better meets Canada`s commitments under international trade agreements such as the Canada-EU Comprehensive Economic and Trade Agreement (CETA).