Canada Free Trade Agreement reduces trade barriers at home to help manufacturers compete globally
Published by Marie Morden on April 07, 2017
The Canada Free Trade Agreement will help manufacturers compete at home and globally to generate long-term growth and jobs for middle-class Canadians. That's the assessment delivered today by Canadian Manufacturers & Exporters (CME) President & CEO Dennis Darby as he welcomed the announcement of an agreement that promises to reduce long-standing barriers to trade and investment between provinces.
Darby said the deal will provide valuable certainty and predictability at home and make it easier for CME's more than 10,000 leading manufacturers and exporters to compete in a global environment.
He commended the Hon. Navdeep Bains, Minister of Innovation, Science and Economic Development, as well as premiers and economic development ministers for coming together to unlock the potential of domestic markets for Canadian manufacturers.
"Even with long-standing obstacles limiting growth of trade within Canada, manufacturers have helped to grow the value of interprovincial trade to $385-billion in goods and services. That's one fifth of Canada's GDP," said Darby.
"Now imagine what Canadian innovation can accomplish on a playing field that is more level, transparent and accountable across our great country."
The CFTA will provide Canadian businesses with the same access that was granted to European companies in the Canada-Europe Free Trade Agreement (CETA).
New opportunities for government procurement will help bring the best Canadian products to markets from coast-to-coast-to-coast, and notably open up to $4.7 billion in new business opportunities in acquisitions made by government utility agencies.
Darby said CME members are encouraged by an agreement that provides greater clarity around dispute resolution and collaborative processes to address ongoing obstacles to trade.
"This is an historic agreement that moves Canada in the right direction, one that builds a foundation for long-term growth and envisions a better future for middle-class Canadians," said Darby.
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and thrive around the world. In 2016, CME released Industrie 2030 - a roadmap for doubling Canadian manufacturing activity by 2030. Our focus is to ensure the sector is dynamic, profitable, productive, innovative and growing. We aim to do this by strengthening the labour force, accelerating the adoption of advanced technology, supporting product commercialization, expanding marketplaces and, most importantly, ensuring a globally-competitive business environment. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada's exports.
For more information, contact:
Canadian Manufacturers & Exporters
Tel: (613) 755-2068
Found in: Free Trade