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Reflections On Romania'S Trade With Canada–As Member Of Nafta

Author

Listed:
  • PAUL BOGDAN ZAMFIR

    (CONSTANTIN BRANCUSI UNIVERSITY OF TARGU-JIU, ROMANIA)

Abstract

This paper argues that The Comprehensive Economic and Trade Agreement Canada-EU(CETA) is the element of maximum visibility for the current legal framework ofbilateral trade relationsbetween Romania and Canada. Among other things, the agreement seeks to bring about a better harmonization of trade regulations and rules a greater mobility of people, better access to the public procurement market and higher protection of intellectual property and foreign direct investment. This feature will be particularly valuable insofar as it reflects a new reality ininternational trade. More than ever, Canadian and European enterprises are developing economic collaborations in producing goods and services within the global supply chains. Also, there is an increasing demand for the business community to create an environment where companies can connect faster and more effective with their foreign partners. Overall, CETA allows faster and less costly to the Canadian and EU markets for exporting companies, by introducing of specific measures reducing technical barriers on trade and enhancing the cooperation in the field of regulatory. This aspect is reflected by cost savings and gains of efficiency for both parties of the CETA. On this background, it can be noticed that CETA brings new opportunities for enterprises established in the territory of each of the two Parties. In addition to these legal issues which are found in the scientific content of the paperit is evidenced from an economic perspective the overall evolution of Romania's trade relations with NAFTAand especially with Canada as a member state of this organizationin the last ten years. Also in this context, it is suggestedthe idea thatthe intensification ofthe bilateral trade between Romania and Canada, can contribute substantially to the creation of mutual welfare thanks to liberalizingthe exports and imports of industrial goods with high added value.

Suggested Citation

  • Paul Bogdan Zamfir, 2018. "Reflections On Romania'S Trade With Canada–As Member Of Nafta," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 90-97, December.
    • Handle: RePEc:cbu:jrnlec:y:2018:v:special:p:90-97
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    File URL: http://www.utgjiu.ro/revista/ec/pdf/2018-SPECIAL/11_Zamfir.pdf
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    References listed on IDEAS

    as
    1. Ludmila Borta, 2014. "Ceta - Bilateral Trade Agreement Between The Eu And Canada," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6, pages 17-31, March.
    2. Iwona M.Pawlas, 2014. "The Evaluation Of Trade Relations Between Poland And Germany From 2003 To 2012," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 8(1), pages 224-236.
    3. Pierre Kohler & Servaas Storm, 2016. "CETA without Blinders: How Cutting “Trade Costs and More” Will Cause Unemployment, Inequality, and Welfare Losses," International Journal of Political Economy, Taylor & Francis Journals, vol. 45(4), pages 257-293, October.
    4. repec:jes:wpaper:y:2014:v:6:i:1:p:17-31 is not listed on IDEAS
    5. Pierre Kohler & Servaas Storm, 2016. "CETA Without Blinders: How Cutting ‘Trade Costs and More’ Will Cause Unemployment, Inequality and Welfare Losses," GDAE Working Papers 16-03, GDAE, Tufts University.
    Full references (including those not matched with items on IDEAS)

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