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The free trade agreements of Canada represents Canada's cooperation in multinational trade pacts and plays a large role in the Canadian economy. Canada is regularly described as a trading nation , considering its total trade is worth more than two-thirds of its GDP (the second highest level in the G7 , after Germany ).
The United States and Canada historically have had various forms of mutual economic cooperation. They signed the Canada-United States Free Trade Agreement effective January 1, 1989, which eliminated all tariffs on bilateral trade by January 1, 1998. In February 1991, Mexico approached the United States to establish a free trade agreement. The ...
Comprehensive Economic and Trade Agreement (Canada & EU) – substantial parts are provisionally applied since September 2017; Free Trade Agreement between Mexico and the European Union (Mexico & EU) – took effect in 2000; European Economic Area (most of EU & EFTA) – took effect in 1994; Various bilateral free trade agreements of Switzerland
A multilateral free trade agreement is between several countries all treated equally, and creates a free trade area.Every customs union, common market, economic union, customs and monetary union and economic and monetary union is also a free trade area, and are not included below.
A free trade area is basically a preferential trade area with increased depth and scope of tariffs reduction. All free trade areas, customs unions, common markets, economic unions, customs and monetary unions and economic and monetary unions are considered advanced forms of a PTA, but these are not listed below.
A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other.
The OED records the use of the phrase "free trade agreement" with reference to the Australian colonies as early as 1877. [9] After the WTO's World Trade Organization - which has been considered by some as a failure for not promoting trade talks, but a success by others for preventing trade wars - states increasingly started exploring options to conclude FTAs.
Foreign direct investment (FDI) by country [3] and by industry [4] are tracked by Statistics Canada; the total in 2012 of FDI was CA$634 bn. [3] New FDI inflow to Canada in 2011 was CA$40.8 bn. [5] Canada was host to CA$33 bn in state-owned enterprise investment over the period between 2005 and 2012. [6]