Canada-United States-Mexico Agreement (CUSMA)
Canada, the United States, and Mexico are all the three countries that have the largest free trade region in the world. This was done to generate economic growth and to raise the standard of living of the people of all three member countries. The Canada-United States-Mexico Agreement known as CUSMA will work to strengthen Canada’s strong economic ties with the United States and Mexico.
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About CUSMA
On November 30, 2018, Canada, the United States, and Mexico all three countries joined and signed an agreement known as CUSMA. This will keep the tariff-free market entry from the North American Free Trade Agreement (NAFTA) and include updates about trade challenges and opportunities. Since August 2017, Canada started to negotiate and partner with NAFTA to make a good deal for Canadians. Canadian businesses, workers, and communities all benefited because of this agreement. CUSMA included rights of language on gender and Indigenous peoples.
CUSMA ensures that all segments of society can take advantage of the economic opportunities from trade to investment in Canada and abroad. Global companies are investing in Canada because of its rich natural resources and privileged access to markets around the globe. Canada is recognized as the best country in the G20 to invest and do business. For many years Canada has led all the G7 countries in economic growth.
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Benefits of investing in Canada
- Canada has the most highly educated employees among OECD members
- The business tax cost is 46% less than United State
- Best in research and development (R & D) environment
- Has the highest financial systems
- High cost of living
- world-class universities, universal health care, and clean and friendly cities
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Business opportunities in Canada
Individuals who are investing in Canada under $1,000 shall not require a certification of origin. The certification is required only if the goods cost $3,000 or more than that. Canada rejects the certification for importing casual goods which are non-commercial goods that are acquired from the United States or Mexico.
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