(Alex Ballingall – Toronto Star)
When Claire Citeau looks at Canada’s international trade situation, with NAFTA under threat amidst an ongoing search for new markets, she worries about another South Korea.
Canada struck a trade deal with the Asian country in 2015, but not before the European Union, Australia and the United States inked their own pacts to get rid of tariffs on a plethora of goods entering its $1.8-trillion economy.
The result, according to Citeau, who is executive director of the Canadian Agri-Food Trade Alliance, was that Canada essentially missed the boat. Exports of Canadian agri-food exports to South Korea slumped from more than $1 billion to $530 million after the E.U. and U.S. deals were signed. By the time Canada cemented its own deal, other countries had already rushed in to sell beef, pork, grains and other goods to South Korea, Citeau said. Click here to read more.