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NAFTA: Beneficial or Detrimental to Canada?
Summary: Personal position on NAFTA and its benefits and consequences on Canada.
Implementation of the North American Free Trade Agreement (NAFTA) began on January 1, 1994. This agreement would remove most barriers to trade and investment among the United States, Canada, and Mexico. This five-year-old trade agreement put Canada on the global trade map and multiplied its exporting capacity therefore my position is for NAFTA
Two-way agricultural trade between the United States and Canada increased more than 50 percent since 1994 reaching $16.3 billion in 2000. Although Canadian imports have grown under NAFTA, so have its exports. Without NAFTA, Canada would have lost these expanded export opportunities. The NAFTA offers advantages and challenges for Canada. In my opinion, to reject NAFTA could be a fundamental long-term error for Canada. The numbers speak for themselves: 86 per cent of Canada's exports and 88 per cent of Mexico's go directly to the U.S. If the U.S. closed its borders to Canada the economy would go down quickly.
Also...
This section contains 297 words (approx. 1 page at 300 words per page) |
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