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USA: "US businesses continued to make strategic investments during recession" report

USA: "US businesses continued to make strategic investments during recession" report. 26-page report by Ernst & Young.

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back to index backAMERItalk March,  2017


Canada’s Free Trade Agreements Strategy

With EU FTA Completed, A Pivot to Asia.

Twelve countries originally participated in the Trans-Pacific Partnership (TPP): Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. These nations make up 40 percent of the global trade with a market of nearly 800 million people and a gross domestic product (GDP) of $28.5 trillion. As the TPP has been not ratified by some, and with the lack of support from the new US president, it appears the agreement has reached its demise.

With the TPP at a stumbling block, it’s not surprising that many trade experts are looking to the Regional Comprehensive Economic Partnership (RCEP) as an alternative. The RCEP is a proposed agreement with the ten member states from the Association of Southeast Asian Nations (ASEAN): Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. It also includes six dialogue countries” – Australia, China, India, Japan, South Korea, and New Zealand – with which the ASEAN countries have existing free trade agreements. The RCEP member states account for a population of 3.4 billion people, and with a total GDP of $21.4 trillion they make up approximately 30 percent of the world’s GDP.

Seven of the twelve members of the TPP – Australia, Brunei, Japan, Malaysia, New Zealand, Singapore, and Vietnam – are also parties to the proposed RCEP agreement. Additionally, China and India are also included, making the RCEP an interesting agreement for many countries –including Canada. It was during the ASEAN Economic Ministers conference in September 2012 that the 16 RCEP parties agreed to start negotiations. To date, there have been 16 rounds of talks, with a further round scheduled in Japan in February 2017.

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Source: Global Trade Magazine - GAI





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