Canada South Africa Trade Agreement

For example, Jesse Moore, co-founder of M-KOPA, a Kenyan solar energy company, said the deal would reduce the cost of moving goods across African borders and make it easier to move labor, leading to efficiency gains and growth within the company. Dr Samy, from the Norman Paterson School of International Affairs (NPSIA), Carleton University, however, noted that the absence of Nigeria and South Africa will limit the effects of the agreement. Canada is consistently referred to as a trading nation, with total trade accounting for more than two-thirds of its GDP (the second highest level in the G7 after Germany). [1] [2] Of this total, about 75% are treated with countries that are part of free trade agreements with Canada, particularly with the United States, on the North American Free Trade Agreement (NAFTA). In 2018, bilateral merchandise trade between Canada and South Africa totaled $1.37 billion, consisting of $410.8 million $US in exports from Canada and $US 962.9 million in imports from South Africa. The North American Free Trade Agreement between Canada, the United States and Mexico entered into force on January 1, 1994 and created the world`s largest free trade region by GDP. In 2014, the combined GDP for NAFTA was estimated at more than $20 trillion, with a market of 474 million people. [5] [6] Building on this success, Canada continues to negotiate and conclude free trade agreements with more than 40 countries, including the latest with South Korea, which is Canada`s first free trade agreement with a partner in the Asia-Pacific region. . . .

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