Canada Is A Member Of Which Of The Following Trade Agreements Or Associations

Canada currently has a total of 13 free trade agreements, but none is as important as NAFTA, which includes Canada, the United States and Mexico. In short, 72.6% of Canada`s total exports, worth $453.7 million, were destined for the U.S. market in 2016. Canada was also the best market for 32 of the 50 U.S. states. McCall adds that there is „a really missed opportunity not to address it,” and notes that Canada is not alone in this issue. It has a number of important partners, including „voices of mutual support” within the EU, which has addressed the issue. Canada, Chile and New Zealand have also created an inclusive trade action group that has made a joint statement to promote progressive and inclusive trade. In the 1980s, the global economy became increasingly complex. This challenge has led the countries participating in the GATT to try again to create an official international trade regulator.

In a series of discussions that lasted from 1986 to 1994, 123 countries came together to sign the Charter of the World Trade Organization. The WTO officially took office on 1 January 1995. GATS is the first multilateral agreement on trade in services. It came into force on 1 January 1995 with the other agreements negotiated under the Uruguay Round. The GATS provides a framework for the rules governing trade in services, a mechanism for Member States to conquer their service markets and access to WTO dispute settlement procedures. If, at the end of the exploratory phase, it is concluded that the initiative should be continued, decisions on the formal opening of negotiations and on a negotiating mandate will be sought. During the GATS negotiations, it was agreed that, in addition to the general obligations such as the MFN and transparency mentioned above, it would be up to each Member State to decide on the specific market-opening commitments it would make by sector. Members therefore set out, in their individual schedule of specific commitments, the level of market access and national treatment that they are willing to grant to foreign suppliers in certain sectors.

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