While a free trade agreement may not be the „everything and everything“ that sets you up in an international market, there is one thing we can all agree on – ATFs offer options! Talk to a trade commissioner to find out what are the most useful options for your business. 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. While free trade agreements may seem complex, they are intended to make trade more accessible to all Canadian businesses, including small and medium-sized enterprises (SMEs). Recent free trade agreements, such as the Canada-Korea Free Trade Agreement (CKFTA), the Canada-EU Comprehensive Economic and Trade Agreement (CETA) and the Comprehensive and Progressive Trans-Pacific Partnership (PPAC) agreement, have been negotiated to make trade more accessible to SMEs. Buy Canadian ingredients or materials that you can use in your products or services? Get ready for other options. Canadian businesses are already trading with each other, and trade between provinces and territories is worth at least $385 billion a year. The CFTA will benefit businesses across the Canadian economy, expand selection and help drive growth. 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.
Have you ever tried to sell your goods abroad and have you found the tariffs prohibitive or the requirements of the business too confusing or unpredictable? There are many problems that Canadians face when trying to expand their business internationally. One of the ways the Government of Canada is helping to remove and remove trade barriers is to negotiate comprehensive free trade agreements on preferential access to global markets.
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