Develop and maintain access to strategic foreign markets

Assignment Help Management Theories

Reference no: EM133540151

The main purpose of any international trade agreement is tariff reduction (do not include this as one of the issues or items to be included in a trade agreement). Thinking about Chapter three of the prescribed text, and what we discussed in class in week 3.

You are to assume you are an adviser to the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, and then discuss what you would want to see in a trade agreement between Canada and one of the countries listed below1 , if they were to ratify an International Trade Agreement.

Please discuss at least 4 separate issues or items and explain why you would want to include them in a trade agreement from your perspective as an adviser. You are instructed to prepare a report setting out the main issues to be included in an international trade agreement (at least 250 words for each issue; please share your own views; 2.5 marks for each issue).

Canada is a modern, industrialized economy with important resources, and a small domestic market. Read below to understand Canada's policy on International Trade Agreements before starting this assignment.

Trade policy 1012 Expanding trade and investment is key to ensuring meaningful, inclusive and sustainable prosperity for Canadians, businesses and communities. To support this objective, Canada actively implements a trade policy that aims to:

1. develop and maintain access to strategic foreign markets for Canadian goods, services, and investments;

2. manage key trading relationships while diversifying opportunities; and

3. maximize the benefits of trade for all Canadians.

Global Affairs Canada leads on the development and implementation of Canadian trade policy, including through the negotiation and implementation of international trade, investment, and air transportation agreements.

All this is done in collaboration with a wide range of partners including federal departments and agencies, and through active dialogue with provincial and territorial governments, industry representatives, civil society and Indigenous peoples. Trade policy priorities Canada's trade policy is based on three mutually reinforcing priorities: support for a strong, rules-based multilateral trading system, trade diversification and inclusive trade. 1 Brazil, South Africa, The Philippines, India

This section provides educational information sourced from Global Affairs Canada. Please note that it is intended for educational purposes only.

Support to a strong multilateral trading system

The multilateral trading system, with the World Trade Organization (WTO) at its core, is the cornerstone of Canada's trade policy. Canada also plays a leadership role in WTO reform, including by chairing the "Ottawa Group" of likeminded WTO members. Learn more about Canada and the World Trade Organization (WTO). Canada is also an active participant in other multilateral institutions that play important trade policy roles, including the Organization for Economic Co-operation and Development (OECD), Asia-Pacific Economic Cooperation (APEC), the G7, and the G20.

Trade diversification

A long-standing trade policy priority is the diversification of markets for Canadian goods, services and investments through the negotiation of multilateral and bilateral regional free trade agreements (FTAs). Canada currently has 14 bilateral and regional FTAs in force, covering 51 countries and nearly two thirds of global GDP. As the only G7 nation with FTAs with all other six countries, Canada is at the centre of global trading networks.

Canada's inclusive approach to trade

Canada seeks to ensure that the benefits of trade and investment are more widely shared, both in Canada and abroad. This is done by advancing trade policies and provisions in trade agreements that maximize the benefits of trade for traditionally underrepresented groups such as women, small and medium-sized enterprises (SMEs) and Indigenous peoples. Canada also consults with a broad range of Canadians across the country to develop its trade policy positions and objectives, with a view to ensure that these align with all of our interests and needs.

Trade policy for sustainable and inclusive growth

Canada's trade policy has economic, environmental and social implications that must be taken into account in order to ensure that the initiatives we advance effectively contribute to our sustainable and inclusive prosperity. Impact assessments are an integral part of all trade negotiations and help decision makers advance policy options that support Canada's environmentally responsible economic growth, for the benefit of all Canadians.

Reference no: EM133540151

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