The Canada-Korea Free Trade agreement took place at the British Colombia (B.C.) on the 12th of March, 2014. The Canadian Prime Minister Stephen Harper who was in attendance at the British Colombia hyped the benefits of the Canada-Korea free trade deal not only for the provinces, but particularly for B.C which has tremendous gains and export opportunities that exists in South Korea
The free trade agreement is expected to remove all tariffs between the two nations [South Korea and Canada] also with the initiative to have more access to South Korea.
B.C will be become the major benefactor of this deal with the South Korea. British Columbia has so much to gain and it is also aware of the export between Korea and other Asian market.
B.C will be become the major benefactor of this deal with the South Korea. British Columbia has so much to gain and it is also aware of the export between Korea and other Asian market.
South Korea will drop 3% tariff on liquefied natural gas given the Canadians the free access to their product. There are fears that the deal will cost tens of thousands their jobs in the automobile sector. But the Prime Minister Stephen Harper having South Korea drop their tariff is a big thing for Canada. It gives Canada product to be competitive.
Although I think it is a great deal which has occurred between the two countries, but from the report, the deal will likely benefit farmers more than the usual consumers. It was received by many sectors except the automotive industry due to the fear of loss of jobs in manufacturing.
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