Does Canada Have a Free Trade Agreement with Australia

11 Nov Does Canada Have a Free Trade Agreement with Australia

Does Canada Have a Free Trade Agreement with Australia?

As a professional, one of the most common questions that I receive is whether Canada has a free trade agreement with Australia. The answer is yes, Canada does have a free trade agreement with Australia.

The Canada-Australia Free Trade Agreement (CAFTA) was signed in 1988 and was the first free trade agreement that Canada signed with a country outside the Americas. The agreement entered into force on January 1, 1989, and has been benefitting both countries ever since.

Under the CAFTA, both Canada and Australia have agreed to eliminate or reduce tariffs on certain goods and services traded between them. This has made trade between the two countries more efficient and cheaper, resulting in increased trade flows and economic growth.

The CAFTA covers a broad range of sectors, including agriculture, fisheries, energy, mining, and manufacturing. It also includes provisions on intellectual property, government procurement, and dispute resolution.

One of the key benefits of the CAFTA is that it has opened up new opportunities for Canadian and Australian businesses to expand and trade with each other. For example, Canadian companies now have greater access to the Australian market for products such as beef, pork, and wheat, while Australian companies can export more wine, minerals, and processed foods to Canada.

In addition to promoting trade and investment, the CAFTA has also strengthened the ties between Canada and Australia. The two countries share many common values and interests, and the agreement has helped to deepen the relationship between them.

In conclusion, Canada does have a free trade agreement with Australia, and it has been a valuable and successful partnership for both countries. The CAFTA has increased trade and investment, promoted economic growth, and strengthened the bonds between Canada and Australia.