Give Examples of 2 Trade Agreements Canada Has Signed

Canada, as a country, has always been known for its strong economic ties with nations all around the world. Through the years, this has resulted in a number of trade agreements being signed by the country with different nations, which have helped in boosting its economy and increasing its global presence.

Here, we will be discussing two trade agreements that Canada has signed in recent years.

Canada-United States-Mexico Agreement (CUSMA)

The CUSMA, a revised version of the North American Free Trade Agreement (NAFTA), was signed by the leaders of the three nations on November 30, 2018. This agreement is aimed at modernizing the economic relationship between the three countries, by creating a platform that would benefit North American businesses and workers.

The CUSMA is a trilateral agreement that covers a wide range of topics, including intellectual property, digital trade, and labour and environmental standards. It also ensures that 75% of the components of cars manufactured in North America are produced within the region, and that more US dairy products can be sold in the Canadian market, among other provisions.

Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

The CPTPP is a free trade agreement between 11 countries that border the Pacific Ocean. It was signed by Canada in March 2018, after it was renegotiated following the withdrawal of the United States from the original Trans-Pacific Partnership (TPP) agreement.

The CPTPP covers a range of areas, including trade in goods and services, investment, intellectual property, and government procurement. It also includes provisions on e-commerce, labour and environmental standards, and small and medium-sized enterprises.

Some of the major benefits of this agreement for Canada include increased access to the Japanese market for Canadian beef and pork, and the elimination of tariffs on 99% of Canadian goods exported to other CPTPP member countries.

In conclusion, Canada`s active participation in creating and joining trade agreements with other nations has been instrumental in furthering its economic growth and development. The CUSMA and CPTPP are just two examples of the country`s efforts to expand its global reach and create mutually beneficial relationships with other nations.

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