Canadians are expanding their economic connections with Singapore and the pacific region in general thanks to Singapores open economy and the CPTPP free trade agreement.
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The United States and French commercial alliance dates back centuries with commonality on most trade issues. France is the world's fifth largest economy and a leading trade partner with the United States. Leading exports from the US to France include aerospace, IT infrastructure, advanced instrumentation including medical supplies and broadcasting equipment.
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Peru represents a growing business opportunity for Canadian companies. Peru's environmental and labour cooperation with Canada make it one of the best countries to do business with. The Peru-Canadian Free Trade Agreement eliminates tariffs on virtually all Canadian exports to Peru.
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Finland is among Canada's largest European export market that continues to grow thanks to the Canadian European free trade agreement (CETA). The trade between Finland and Canada is primarily in the area of science and technology with online e-commerce sales growing substantially.
Vietnam is among Canada’s largest trading partners in the pacific region with over $6 billion in merchandise trade each year. Shippers from Vietnam are increasingly looking to Canada as base in North American for shipping to the USA. Canada and Vietnam maintain strong economic and cultural relations that are expanding thanks to the CPTPP Free trade agreement. Vietnam origin goods shipped to Canada can be imported duty free.
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Trade between Canada and Chile continue to grow and exceeds $2 billion per year. The Canada-Chile Free Trade agreement / CCFTA has been the cornerstone of Canada’s strong trade and investment relationship with Chile. The relationship will certainly be strengthened by the CPTPP Free Trade agreement, which Canada and Chile are a part of. Businesses now have the choice of whether to use the CCFTA or the CPTPP, depending on whichever applies more favourably to their goods or services.
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A B-13 export declaration is a requirement all exporters from Canada should be aware along with the new CERS online portal reporting system. All exporters must transition to the new CERS processing for export declarations from Canada.
Canada's new free trade agreements have made is easier for businesses to take advantage of preferential duty free status for smaller transactions. Many goods of qualifying origin from over 40 countries can be shipped to Canada duty free with greatly simplified origin declarations.
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For most international shippers, the terms of sales are clear. After payment, the goods are shipped via a common carrier. The buyer then pays any applicable duty and taxes. Sounds simple. Yet there are some complexities to consider regarding international trade terms and conditions of sale.
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