CEPA & Trade Basics
Canada and India aim to finalize this trade agreement by this year.
What is 2026?
This concept means producing goods more efficiently than another country.
What is absolute advantage?
This type of trade agreement occurs between two countries.
What is a bilateral trade agreement?
This is the name of the proposed trade agreement between Canada and India.
What is the Comprehensive Economic Partnership Agreement (CEPA)?
This concept means countries focus on producing goods they are best at making.
What is specialization?
This risk occurs when political conflict between countries affects trade or business decisions.
What is political risk?
This Canadian prime minister helped launch the original CEPA negotiations in 2010.
Who is Stephen Harper?
Reducing tariffs and trade barriers to encourage international trade is called this.
What is trade liberalization?
In 2023, tensions increased after Canada accused India of involvement in the killing of this Sikh activist in British Columbia.
Who is Hardeep Singh Nijjar?
One major goal of CEPA is reducing these taxes on imported goods to make trade cheaper.
What are tariffs?
When countries rely on each other for goods and services through trade, it is called this.
What is economic interdependence?
These trade restrictions include regulations or standards that make trade harder without using tariffs.
What are non-tariff barriers?
This major benefit of CEPA gives Canadian businesses access to India’s population of over 1.4 billion people.
What is Market Expansion?
The increasing global connection of economies through trade, investment, and supply chains is called this.
What is globalization?
If CEPA fails, Canada may reduce reliance on the U.S. by expanding trade with other countries. This concept is called this.
What is trade diversification?