Canadian Free Trade

A country cannot produce all of the products to meet the needs of their people. Therefore, they seek trade with other countries to export their goods. Therefore, the Government of Canada signed a free trade agreement with South Korea. The aim of this agreement was to provide greater market access opportunities for Canadian companies doing business in Korea. As result of this agreement, thousands of new jobs will be created in many sectors. However, companies face many challenges when doing business globally. In this article, Canadian companies will have opportunities to do business globally, but at the same time, they will face challenges through signing of free-trade agreement. Canada realized to expand their export and get access to Europeans

Moreover, free trade is thought of as a good thing for the absence of trade barriers that makes the exportation easy and comparatively inexpensive. As a result, a country can efficiently exploit their resources and gain a greater income. Even though, free trade is economically beneficial to a country, there can also be major disadvantages that come with the formation of free trade agreements such as, the Canadian Beef Industry. The Canadian beef industry has opportunity to get duty free access to international market. However, there are many challenges this industry has to face in producing hormones free beef. Canada is not enriching enough in the production of hormones free beef and needs to enhance its hormones free beef production to cope with the export demands. Canada also has potential to supply canola products for which they need new canola processing facilities to utilize this free trade opportunity. Many other beneficiaries are Canadian industries like metals and minerals, steel, plastics, chemical and forestry that will also get opportunities to get access to Korean market. Also, services industries will get benefit to provide their expertise in education. These are the sectors in which Canada is on the winning