Nunavut signs on to free trade
Michele LeTourneau
Northern News Services
Monday, April 24, 2017
NUNAVUT
The Government of Nunavut - along with the other 12 provinces and territories -signed on to the Canadian Free Trade Agreement (CFTA) April 7.
"The Government of Nunavut's participation in the CFTA highlights our commitment to a transparent and efficient public government," stated Premier Peter Taptuna in a news release.
"Our participation under the CFTA is consistent with our obligations under the Nunavut Agreement, and secures our territory's interests. It allows Nunavut firms access to the Canadian market and protection from barriers to trade. It is my hope that our participation in the CFTA could ultimately reduce the cost of goods in Nunavut."
Because Nunavut was not formed until 1999, it was not part of the 1995 Agreement on Internal Trade. The new agreement strengthens and modernizes the 1995 document, covering nearly all trade in goods and services, as well as investment and labour mobility in the Canadian economy, according to the release.
Of particular interest to Nunavut is the commitment within the CFTA to develop options to enhance economic development in the food sector in the territories, said Taptuna.
The agreement comes into effect July 1.
