International trade

Though we have always been a trading people, Canadians today are expanding their networks abroad more than ever before. The liberalization of trade through the World Trade Organization and the North American Free Trade Agreement (NAFTA) has reduced the costs associated with international trade, increased production runs and encouraged specialization. Moreover, the rapid diffusion of information and communication technologies has cut transportation costs and improved delivery times. Technological progress and productivity gains in the global marketplace have also lowered prices on many goods. As a result, Canadians are increasing an already strong reliance on international trade, particularly trade with the United States.