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Rosie Taylor | Photography

Trade Agreements Infrastructure

As demand increases, international perception of the effectiveness of our commercial and logistical infrastructure is diminishing > The government`s existing national trade corridors must move from largely political actions to permanent institutionalized instruments of trade competitiveness in Canada. The relaunch of the bridge and corridor strategy is not sustainable. It therefore prepares the country to repeat the ephemeral increase in international trade infrastructure rankings during the Asia-Pacific gateway programs managed by the government from 2005 to 2008 and the following fall, after the end of these programs. The end of the initiatives has also resulted in a loss of knowledge and institutional memory within the government, which now needs to be rebuilt. It`s more than counterproductive. It causes reputational damage, as foreign customers question the improvement and quality of infrastructure in a country that seems to be able to be focused and serious in the long run. On the other hand, AfCFTA creates a single continental market for goods and services, which aims to increase intra-African trade by reducing tariffs by 90% and harmonizing trade rules at regional and continental levels. A regional trade agreement (RTA) is a treaty between two or more governments that sets the trade rules for all signatories. Examples of regional trade agreements include the North American Free Trade Agreement (NAFTA), the Central American-Dominican Free Trade Agreement (CAFTA-DR), the European Union (EU) and the Asia-Pacific Economic Cooperation (APEC). Today, only 15 per cent of African exports go to other African countries, compared to an intra-trade level of 61 per cent in Asia and 67 per cent in Europe. High tariffs and colonial infrastructure facilitate the export of African countries to Europe, Asia or the United States. The year 2019 marks a memorable history of African trade history with the entry into force of the African Free Trade Agreement (AfCFTA).

The agreement creates the world`s largest free trade area since the creation of the World Trade Organization in 1995.

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