This afternoon, the provinces and the federal government announced the establishment of a new interprovincial trade deal. On July 1, 2017, the Canadian Free Trade Agreement will replace the Agreement on Internal Trade. Most notably, the Canadian Free Trade Agreement aims to remove trade barriers across all sectors unless specifically excluded. This marks a major change from the existing Agreement on Internal Trade, which is limited to the sectors specifically identified in the agreement. Further, the Canadian Free Trade Agreement:
- Opens up bids for provincial government contracts valued at $25,000.00 to bids from around the country;
- Streamlines the dispute resolution process for individuals and companies challenging potential trade barriers;
- Significantly toughens sanctions by allowing adjudicators to award fines of up $10 million against provinces who enact policies inconsistent with the agreement.
To speak to a lawyer about the Canadian Free Trade Agreement and its implications on your business, or any other trade law issues, please contact David Wilson or Ben Grant at Conway Baxter Wilson LLP.