Canada Indonesia Free Trade Agreement

As the voice of the Canadian private sector in ASEAN, the Canada-ASEAN Business Council (C TRANSPORTATION) advocates a policy that creates the best possible trade relationships. In terms of regions that ASEAN might consider to be the next major trading partner, Canada is a natural first choice. And it works both ways. These results support CABC`s assessment that a comprehensive free trade agreement – which goes beyond simply removing tariffs and includes services and investment liberalization, a reduction in non-tariff measures and improvements in trade facilitation – is in the best interests of Canada and ASEAN. ASEAN Advantage, a 2017 report we co-authored with the Institute of Asian Research at the University of British Columbia, found that an ASEAN-Canada free trade agreement would generate up to $11 billion in additional two-way trade and increase Canada`s GDP by $1.2 billion by 2027. This would benefit a large number of businesses and millions of workers and strengthen Canada`s position in the Southeast Asian market. The main benefits of the free trade agreement would be the removal of tariffs and the improvement of non-tariff barriers for goods, services and investment. An agreement on the promotion and protection of foreign investment (FIPA) is an agreement to encourage foreign investment. Canada is regularly 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 all of this trade, approximately 75% are wiretapped with countries that are part of free trade agreements with Canada, particularly with the United States through the North American Free Trade Agreement (NAFTA). [3] At the end of 2014, bilateral trade in Canada reached $1 trillion for the first time. [4] Canada negotiates bilateral free trade agreements with the following countries and trading blocs:[7] Diplomatic relations between Indonesia and Canada officially began when the two countries signed an agreement on October 9, 1952, to open diplomatic representations in their respective capitals. However, relations between the two countries began in 1948, when Indonesia fought in 1945 for international recognition of its independence from its former colonial power.

[3] Canada, through General Andrew McNaughton, as President of the United Nations Security Council, succeeded in breaking the negotiations on the resolution of the conflict between Indonesia and the Netherlands, which resulted in the adoption of Resolution 67/1949, which calls for the creation of a Dutch-Indonesian roundtable. Tripartite negotiations culminated in the international recognition of Indonesia`s sovereignty in December 1949. [4] Australia and New Zealand will see further increases in exports of raw materials, tourism and education. Meanwhile, trade in three economic corridors could exceed $230 billion by 2025. The North American Free Trade Agreement between Canada, the United States and Mexico came into force on January 1, 1994 and created the world`s largest post-GDP free trade region. Until 2014, NAFTA`s GDP was estimated at more than $20 trillion, with a market of 474 million people. [5] [6] Based on this success, Canada continues to negotiate free trade agreements with more than 40 countries and has free trade agreements, most recently with South Korea, Canada`s first free trade agreement with an Asia-Pacific partner.

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