U.S. Chambers supporting Canadian NAFTA renewal
April 10, 2018
The Ontario Chamber of Commerce (OCC) is getting NAFTA renewal support from two U.S. states.
Both the California and Kentucky Chambers of Commerce appear to be supporting the renewal of the North American Free Trade Agreement (NAFTA).
Trade between California and Ontario is extremely strong with an upward trajectory over the past five years. California and Ontario are key trade partners with billions of dollars at stake in sectors such as autos, medications, coins, fruits, motor vehicle parts and computers and computer peripherals.
Trade between Kentucky and Ontario is of critical importance, with almost $11 billion at stake. While Kentucky and Ontario economies are different, Kentucky relying heavily on manufacturing to produce economic activity and Ontario is a diversified economy, the trade relationship between the two is mutually beneficial resulting in jobs and economic growth.
“The CalChamber’s long-standing support for NAFTA is based upon an assessment that it serves the interests of California, Ontario and beyond – and is beneficial to the business community and society as a whole. Our Chambers stand together in urging a quick and efficient negotiation process, ensuring that trade remains strong and without interruption,” states Allan Zaremberg, President and CEO.
“Canada is one of Kentucky’s top export markets. Whether it is automobiles and auto parts, agricultural commodities, aerospace products, or our bourbon moving north, Kentucky is supplying important products to the Ontario economy,” said Dave Adkisson, President and CEO of the Kentucky Chamber of Commerce. “In fact, in 2016 Kentucky was among the top ten states providing Ontario’s imports.”
With California and Ontario being long-standing trade partners, the CalChamber and the OCC are also encouraging their governments to continue the work being done to explore options for cooperation independent of NAFTA. An integral part of the success of trade relationships are positive bilateral diplomatic relations at the subnational level.
“The OCC is working collaboratively with the California Chamber of Commerce in support of renewing NAFTA and the expansion of trade to ensure continued prosperity and competitiveness for both our economies,” said Rocco Rossi, President and CEO at the Ontario Chamber of Commerce. “We know that trade is a way of improving results for everyone and we are committed to working with our Chamber Network, US Chambers and the Government of Ontario in support of free trade.”
The OCC is working collaboratively with both chambers to add positive momentum for a renewed NAFTA to ensure continued prosperity and competitiveness for our respective economies. Trade is a way of improving results for everyone and will continue to work with our Chamber Network, US Chambers and the Government of Ontario in support of free trade.