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The Canada-United States-Mexico Agreement (CUSMA)

Canada, the United States, and Mexico created the largest free trade region in the world. They have created a pact that will benefit three countries to raise economic growth and change the standard of living.

 

The Canada-United-Mexico Agreement (CUSMA) will serve as a reinforcement of Canada’s strong economic ties with the United States and Mexico.  

 

 

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What is CUSMA?

CUSMA is referred to as Canada, the United States, and Mexico seeking to liberalize trade and remove tariffs and other trade barriers. This Agreement opens up to three countries that ensure there won’t be barriers in the future regarding business.

 

On November 30, 2018, Canada, the United States, and Mexico joined and signed the agreement which is known as CUSMA. The pact keeps the tariff-free market entry from the North American Free Trade Agreement (NAFTA) and includes updates about the trade-free challenges and opportunities.

 

In 2017, Canada started to negotiate and partner with NAFTA to make a good deal for Canada. CUSMA includes the right to language on gender and Indigenous people.

CUSMA ensures that all segments of society take advantage of economic opportunities from the trade of investment in Canada and abroad. Most global companies are investing in Canada because of its rich natural resources and privileged access to markets around the globe. Canada is regarded as the best country in G20 to invest and do business. In the economic growth chart, Canada has always held the position in G7.  

 

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Benefits of Investing in Canada:

• The highly educated workforce among the OECD (Organisation for Economic Co-operation and Development).
• The lowest total business tax cost in the G7 and 46% lower in the US.
• Competitive research and development environment with the lowest G7 costs for R&D-intensive sectors.
• Recognized as the best financial system in the world.
• Better life standards.

 

Categories of Business persons included under the CUSMA:

• Business visitors
• Professionals
• Intra-company transferees
• Traders and investors

Business opportunities in Canada:

Investors who are investing in Canada under $1,000 will not require any certificate of origin. The certificate will be required if it goods cost $3,000 or more than that. Canada rejects the certification of importing non-commercial goods that are acquired from the United States or Mexico.

 

*Looking for step-by-step assistance to apply for Canada PR visa? Talk to Y-Axis, the leading Overseas Immigration Company in Australia.

How can Y-Axis help you?

Y-Axis, the world’s best overseas immigration consultancy, provides unbiased immigration services for every client based on their interests and requirements. Our impeccable services include the following:

• Free eligibility check through Canada Immigration Points Calculator
• Expert guidance/ counselling for Canada Immigration
• Coaching services: Expert CELPIP coaching, IELTS proficiency Coaching 
• Free career counselling; book your slot today
• Complete guidance for Canada PR visa 
• Job search services to find related jobs in Canada

 

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