Canada Jordan Free Trade Agreement: Benefits, Implications, and Updates
The Benefits of the Canada Jordan Free Trade Agreement
As a law enthusiast, I am excited to delve into the topic of the Canada Jordan Free Trade Agreement. This agreement has significant implications for the trade relationship between Canada and Jordan, and its impact on both countries cannot be overstated.
Overview of the Agreement
The Canada Jordan Free Trade Agreement (CJFTA) came into force on October 1, 2012. It aims to enhance bilateral trade and investment between the two countries by reducing or eliminating tariffs on goods and providing a framework for resolving trade disputes.
Benefits Canada
For Canada, the CJFTA opens up opportunities in the Jordanian market. With duty-free access for many Canadian goods, it allows Canadian exporters to be more competitive in Jordan. The agreement also provides a level of predictability and transparency for Canadian investors in Jordan.
Benefits Jordan
Jordan stands gain CJFTA. It provides Jordanian businesses with preferential access to the Canadian market, which can stimulate economic growth and job creation. Additionally, the agreement includes provisions on intellectual property rights and e-commerce, which can benefit Jordan`s economy in the long run.
Impact Trade
Since the implementation of the CJFTA, trade between Canada and Jordan has seen steady growth. In 2019, Canada`s exports Jordan totaled $106.6 million, while imports Jordan reached $61.8 million. This demonstrates the tangible impact of the agreement on bilateral trade.
Case Study: Agricultural Products
One notable aspect of the CJFTA is the preferential treatment of agricultural products. For example, Canadian beef exporters have seen a significant increase in sales to Jordan since the agreement came into effect. In 2018, Canada exported $12.8 million worth beef Jordan, up from $3.7 million 2012.
The Canada Jordan Free Trade Agreement has undoubtedly brought about numerous benefits for both countries. As a law enthusiast, I am fascinated by the intricate legal framework that underpins such agreements and the real-world impact they have on international trade.
Sources
- Global Affairs Canada – Canada Jordan Free Trade Agreement
- Embassy Canada Jordan
- Statistics Canada
Keywords
Canada Jordan Free Trade Agreement, CJFTA, Canada Jordan trade relationship, international trade, bilateral trade
Unraveling the Canada-Jordan Free Trade Agreement: Top 10 Legal Questions Answered
| Question | Answer |
|---|---|
| 1. What are the key provisions of the Canada-Jordan Free Trade Agreement? | The Canada-Jordan Free Trade Agreement aims to eliminate trade barriers and promote economic cooperation between the two countries. It covers trade in goods and services, investment, and intellectual property rights, among other areas. |
| 2. How does the Canada-Jordan Free Trade Agreement impact tariffs on goods? | The agreement gradually eliminates tariffs on a wide range of goods, making Canadian exports more competitive in the Jordanian market and vice versa. |
| 3. Can Canadian businesses invest in Jordan under the Canada-Jordan Free Trade Agreement? | Yes, the agreement includes provisions for the protection of investments, ensuring that Canadian businesses enjoy a level playing field in the Jordanian market. |
| 4. Are there any specific rules for trade in services under the Canada-Jordan Free Trade Agreement? | Indeed, the agreement includes commitments to facilitate trade in services, such as financial, telecommunications, and professional services, opening up new opportunities for Canadian service providers in Jordan. |
| 5. How does the Canada-Jordan Free Trade Agreement address intellectual property rights? | The agreement includes provisions for the protection and enforcement of intellectual property rights, providing a framework for Canadian and Jordanian innovators to safeguard their creations in both markets. |
| 6. Can Canadian professionals work in Jordan under the Canada-Jordan Free Trade Agreement? | Absolutely, the agreement includes provisions for the temporary entry of business persons, allowing Canadian professionals to work in Jordan under certain conditions. |
| 7. What dispute settlement mechanisms are available under the Canada-Jordan Free Trade Agreement? | The agreement includes provisions for the resolution of disputes through consultation and mediation, providing a framework for resolving trade-related issues between Canada and Jordan. |
| 8. How does the Canada-Jordan Free Trade Agreement impact government procurement? | The agreement includes provisions for non-discriminatory treatment in government procurement, ensuring that Canadian suppliers have fair access to Jordanian government procurement opportunities. |
| 9. Can Canadian exporters benefit from preferential treatment under the Canada-Jordan Free Trade Agreement? | Absolutely, the agreement provides for preferential treatment for Canadian exports to Jordan, giving them a competitive edge in the Jordanian market. |
| 10. How can Canadian businesses take advantage of the Canada-Jordan Free Trade Agreement? | Canadian businesses can leverage the agreement to expand their presence in the Jordanian market, access new opportunities, and compete more effectively with other international players. |
Canada Jordan Free Trade Agreement
This agreement is entered into on this day [Date], between the Government of Canada, hereinafter referred to as “Party A,” and the Government of Jordan, hereinafter referred to as “Party B.”
| Article 1 – Definitions |
|---|
| For the purposes of this agreement, “import duties” means customs duties and charges of any kind imposed on or in connection with importation, but does not include any charge equivalent to an internal tax imposed consistently with Article III:2 of the General Agreement on Tariffs and Trade (GATT) 1994, or any equivalent provision of the World Trade Organization (WTO) Agreement. |
| Article 2 – Objectives | |
|---|---|
| 1. The Parties shall progressively eliminate import duties on originating goods in accordance with the provisions of this agreement. | 2. The Parties shall ensure that the rules of origin and origin procedures are transparent and simple, and that the administrative processes are streamlined and facilitate trade between the two countries. |
| Article 3 – Implementation | |
|---|---|
| 1. The Parties shall ensure that their respective laws, regulations, and administrative rulings of general application pertaining to matters covered by this agreement are promptly published, and to the extent possible, made available electronically. | 2. Each Party shall provide the other Party with any information required to demonstrate that its laws, regulations, and administrative rulings of general application are consistent with this agreement. |
In witness whereof, the undersigned, being duly authorized by their respective governments, have signed this agreement.