Canada's Largest Trading Partners example essay topic
348 words
Canada has come a long way in the industry of trade, since the trading of furs with our motherland of England and other parts of Europe. Yet, even more recently our trading partners have changed. As the United States came into power, Canada being their closest neighbour became a large trading partner, allowing the country to rely less on their European connections. During the Second World War, when Japan's industries were left badly damaged, North America aided them, and their factories were restored. Japan became a partner of Canada, and entered the market with novelty toys, and electronics. Because of this action, many other Pacific Rim countries began to trade with Canada as well, due to Japan's influence.
It became one of Canada's largest trading partners and still is today. The North American Free Trade Agreement, which began the work of removing tariff barriers in 1993, allowed Canada to become more acquainted with Mexico. Before this, Mexico and Canada did very little trade together, as it did with most South and Central American countries. Since this agreement Canada has begun to trade more frequently with them. Canada has begun expanding into China. It has created new markets with the help of Team Canada, in countries such as Russia and Germany.
Canada's markets have opened due to trade missions, and memberships of various world organizations such as: G 8, World Trade Organization and NAFTA. India and Canada have begun a positive trade relationship lately on account of numerous Canadian officials visiting the country to better the relations between the nations. It is now Canada's largest trading partner in South Asia. Recent trade missions and multiple success stories will lead to bigger trade and investment flows. Because of this, it seems that Canada may expand more so into South Asian markets in the near future. The most recent trade missions have been to countries such as Finland and Iceland, and there are plans to head to Norway, Sweden, Denmark and Greenland in 2004.
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