Trade between the European Union and Canada is already very strong – and growth is expected to continue as a result of an historic new trade agreement now being finalized in Ottawa, according to the British International Freight Association. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is said to be Canada’s most ambitious trade initiative, broader in scope and deeper in ambition than the North American Free Trade Agreement.
An agreement between Mexico and the United States, scheduled to become effective by Jan. 1, 2016, would remove all limits on the number of airlines that can provide passenger or cargo service between destinations in both countries. If enacted, the new policy would allow new carriers to enter the market, while carriers already in the market would have the freedom to fly to new cities.
Since the end of World War II and the birth of the modern global economy, business leaders have come to accept an iron law: International trade always expands faster than economic growth. Between the late 1940s and 2013, that assumption held true. Trade grew roughly twice as fast as the world economy annually, as fresh markets opened up, governments signed free-trade pacts, new industries and consumers emerged, and technological advances made international trade cheaper and faster. Now this iron law may be crumbling.