Canada South Africa Trade Agreement

The agreement has the potential to create significant opportunities for Canadian businesses, NGOs, educational institutions and investors. First, by creating value chains and supply chains that enable the development of African activities. This growth requires supply, labour and expertise, and Canada could fill that gap. Second, the institutionalization of a trade policy system can lead to greater predictability and a stable, rules-based system that is attractive to Canadian trade and investment. Finally, new investment opportunities in Africa can take advantage of Canada`s expertise in higher education (lack of engineering and agronomy skills), clean energy and agricultural productivity, ecotourism, forestry, fishing and water. Canada began diplomatic relations with South Africa in 1939. In South Africa, Canada has a high commission in Pretoria (which is also accredited in Lesotho, Madagascar, Mauritius and Namibia) and a trade office in Johannesburg. In Canada, South Africa holds a high commission in Ottawa, a Consulate General in Toronto and honorary consuls in Vancouver and Sudbury. Canada is conducting exploratory discussions on bilateral or multilateral free trade agreements with the following countries and trading blocs, although formal negotiations have not yet begun:[7] Faced with these concerns, Paula Caldwell St-Onge, Executive Director of Pan Africa, Global Affairs Canada, points out that Canada`s international competitors, who are increasingly trading with African countries and investing in African countries , are ahead of Canada in this regard. Canada is making considerable efforts in terms of trade with the Mercosur bloc, which is comparable to Africa`s in terms of GDP.

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] Given that many African companies are SMEs that want to trade with regional neighbours relative to the rest of the world, Dr David Luke, coordinator of the African Trade Policy Centre (ATPC) at the UN Economic Commission (UNCA), estimates that the agreement will boost intra-African trade by 52-100%. An agreement on the promotion and protection of foreign investment (FIPA) is an agreement to encourage foreign investment. To foster the development of bilateral trade and investment relations, the contracting parties will take initiatives in areas such as those outlined in the attached action plan of this agreement: Canadian companies should use existing gasoline knowledge in agriculture and clean technology to create new opportunities for trade diversification in Africa.