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ADMS 1010 (241)
Yong Troy (33)

Week 9 - The Canadian Wine Industry [p2]

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York University
Administrative Studies
ADMS 1010
Yong Troy

Week 9The Canadian Wine Industry ADMS 1010TroyPart IINAFTANorth American Free Trade AgreementNAFTA is an agreement between the United States of America Mexico and Canada coming into effect on January 1 1994 NAFTA called for immediately eliminating duties on half of all US goods shipped to Mexico and gradually phasing out other tariffs over a period of about 14 years An expansion of the earlier CanadaUS Free Trade Agreement of 1989NAFTACanadaUS Trade AgreementThe agreement removed several trade restrictions in stages over a ten year period and resulted in a great increase in crossborder trade The agreement greatly liberalized trade between the two countries removing most remaining tariffs Canada desired unhindered access to the American economy Americans in turn wished to compete in Canadas energy and cultural industries Canada retained the right to protect its cultural industries and such sectors as education and health care Trade between Canada and the United States began to increase rapidly The Goals of NAFTAThe governments of Canada the United States and Mexico resolved to strengthen the special bonds of friendship and cooperation amongst their nations To contribute to the harmonious development and expansion of world trade and provide a catalyst broader international cooperationTo create an expanded and secure market for goods and services produced in their territories To reduce distortions to tradeTo establish clear and mutually advantageous rules governing their tradeTo ensure a predictable commercial framework for business planning and investment To build on their respective rights and obligations under the GATT and other multilateral and bilateral instruments of cooperationTo enhance the competitiveness of their firms in global marketsTo foster creativity and innovation and promote trade in goods and services that are the subject of intellectual property rights
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