Who Oversees International Trade Agreements

This section provides detailed information on the main provisions of trade agreements that are most relevant to municipalities. The three main agreements are the most important: this guide aims to help municipal officials better understand the above fundamental principles of non-discrimination and equity and to better manage the applicability of trade agreements to local activities. In particular, Part I of this document provides detailed information on obligations as well as exceptions, exceptions and corresponding reservations. Part II of the document contains additional details and a progressive guide to determining the applicability of trade agreements to four areas of municipal activity: Canada participates in these agreements and negotiations for a simple reason: it is in Canada`s interest to do so. Benefits include: a clear and stable business environment; Security and improved access for Canadian exporters: protecting Canadian investors abroad; Access to better choices and better prices for Canadian consumers Increase productivity and efficiency for the Canadian economy. They contribute to a higher standard of living for Canadians, as well as for our trading and investment partners. International trade is very important to Canada`s open average economy. There`s enough evidence. In 2016, Canada is the 12th and 9th largest exporter of goods in the world. Since the GATT came into force in 1948, world trade has increased nearly 260-fold compared to world imports. In Canada, total trade in goods and services on both trains reached more than $1.3 trillion in 2016, or about $3.6 billion per day.

From 2011 to 2016, our trade with the United States and Mexico increased by 18.6% to $713.5 billion. The total stock of foreign direct investment in Canada reached nearly $826 billion in 2016, surpassing the stock of Canadian direct investment abroad, which was $1,049 billion this year. It is estimated that one in six jobs in Canada is related in part to exports, with Canada`s total trade in goods and services accounting for 64.4 per cent of our gross domestic product in 2016. While Canada has achieved these very important benefits, it has not renounced any of our core values or policies. Canada reserves the right to regulate in the public interest, including in areas such as public health and safety, education, social services and the environment. Canada also retains its right to promote and preserve cultural diversity. In addition, the NAFTA preamble expressly recognizes the intention of the contracting parties to “preserve their flexibility to protect the common good.” However, NAFTA requires governments at all levels to act in accordance with certain principles, such as non-discrimination, in implementing regulatory measures related to cross-border trade in services. Non-tariff barriers (measures) – (NTB): State measures or policies other than tariffs that restrict or distort international trade.