Under CETA, 98% of EU tariff lines are duty-free for Canadian products. In 2018, Canada`s raw materials industry was the largest exporter to CETA member states. An agreement on the promotion and protection of foreign investment (FIPA) is an agreement to encourage foreign investment. Multinationals investing in Canada benefit in a variety of ways from Canada`s free trade agreement, including: Economic Impact THE CFTA promotes domestic trade, one of the most important drivers of economic growth. Domestic trade accounts for about one-fifth of Canada`s annual GDP, or about $385 billion per year. 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. Improved and modernized trade rules CfTA is making significant progress in Canada`s internal trade framework, improving the flow of goods and services, investment and labour mobility, removing technical barriers to trade, significantly expanding purchase coverage and fostering regulatory cooperation within Canada. 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. According to the Bank of Canada, removing inter-provincial trade barriers could result in up to two-tenths of a percentage point per year in Canada`s potential output. After its full implementation, the CPTPP will form a trading bloc representing 495 million consumers, and 99% of tariff lines will be tariff-free between the parties. Canada`s main exports to CPTP member states include natural resources and agricultural products.

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