The Canadian economy relies heavily on international trade especially exports; thus, agriculture and agri-food sectors play significant roles in the growth and development of the Canadian economy. Remarkably, the Canadian agricultural industry has achieved a competitive edge in the regional and global markets. This phenomenon is attributable to a number of factors including strong trade partnerships, high-quality and safe agricultural products, and its geographic proximity to the United States. In the past four decades, agricultural productivity have increased significantly due to the development of large farms, increased food processing and well-established distribution firms. However, it is evident that international trade liberalization has boosted agricultural productivity. Therefore, it is apparent that free trade agreements bear significant benefits to the Canadian agricultural industry. Some of the major benefits of the free trade agreements to the Canadian agricultural industry are the increase of agricultural exports, tariff elimination, opening of new markets, expansion of the agricultural industry, and the creation of employment opportunities for Canadians in the agricultural sector. Therefore, this paper provides a comprehensive overview on the benefits of free trade agreements on the Canadian Agricultural industry.
Inhaltsverzeichnis (Table of Contents)
- International Trade Agreements and Agriculture
- Benefits of Free Trade Agreements
- Increase of Agricultural Exports
- Elimination of Trade Tariffs
- Opening of New Markets
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to provide a comprehensive overview of the benefits of free trade agreements on the Canadian agricultural industry. It examines the positive impact of these agreements on the Canadian economy, particularly in terms of increased agricultural exports, tariff elimination, and the opening of new markets.
- The role of international trade in the Canadian economy
- The benefits of free trade agreements for the Canadian agricultural industry
- The impact of free trade agreements on agricultural exports
- The elimination of trade tariffs and barriers
- The opening of new markets for Canadian agricultural products
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins by highlighting the importance of agriculture in the Canadian economy and the role of trade agreements in boosting agricultural productivity. It then delves into the benefits of free trade agreements, focusing on their impact on increasing agricultural exports, eliminating tariffs, and opening new markets.
The first benefit discussed is the increase of agricultural exports. The paper analyzes the existing export patterns of Canadian agricultural products, showcasing the significance of the US market and exploring the potential of expanding into Asian and European markets through free trade agreements. The paper also presents data illustrating the impact of trade tariffs on agricultural exports.
The second benefit explored is the elimination of trade tariffs. The paper highlights the role of free trade agreements in reducing trade barriers, specifically focusing on the European Union Comprehensive Economic and Trade Agreement (CETA). It emphasizes the advantages of tariff-free access to the EU market for Canadian agricultural products, including beef, bison, pork, and grains.
The third benefit examined is the opening of new markets. The paper argues that entering new markets, both regional and international, enhances competitiveness. It highlights the potential of the Canadian-Korea trade agreement to penetrate the Asian market and the broader economic implications of establishing new trade partnerships.
Schlüsselwörter (Keywords)
The key themes and concepts addressed in this paper revolve around international trade agreements, the Canadian agricultural industry, and their interconnected benefits. Specifically, the paper focuses on themes like agricultural exports, tariff elimination, opening new markets, and the broader economic implications of trade partnerships.
- Quote paper
- Caroline Mutuku (Author), 2018, International Trade Agreements and Agriculture, Munich, GRIN Verlag, https://www.grin.com/document/432461
