Trade Agreements Between Canada And Sweden

The agreement with South Korea illustrates the impact that EU trade agreements can have on growth. In the five years since the agreement was signed, EU exports to South Korea have increased by 55%. European car sales in South Korea have tripled. Simplified and cheaper exports to Canada will be the main result of the free trade agreement signed at the end of October between the EU and Canada. In concrete terms, the agreement means that 98% of customs duties on goods disappear. The volume of trade between Canada and Sweden is small but growing. Canada`s exports to Sweden (mainly ore, machinery and electrical machinery) totaled $544.7 million in 2007, while Canadian imports from Sweden were $US 2.1 billion for the same period. Among the most important imports were machinery, pharmaceuticals and vehicles. “The Port of Gothenburg works closely with a large part of Swedish industry and we take a positive view of the rules that facilitate exports and imports and reduce customs duties. The main export products that pass through the port, such as pharmaceuticals, cars, machinery and steel, will benefit greatly from the free trade agreement with Canada,” said Magnus K√•restedt, Director General of the Gothenburg Port Authority.

Merchandise trade: Merchandise trade refers to trade in physical goods such as cars, wheat and iron ore. In 2007, Canadian direct investment reached $1.3 billion in Sweden, while Swedish direct investment (FDI) reached $8.5 billion in Canada. Sweden spends about 4% of its GDP on research and development, the highest level in the OECD, with research divided between academic and business-related research. Research in the business sector focuses mainly on transport, telecommunications and pharmaceuticals; And is dominated by Ericsson. Opportunities for canada-Sweden research partnership include forestry; advanced materials; genomics and pharmaceuticals; information technology; and polar, environmental and atmospheric studies. [3] Merchandise trade data are based on tariffs; Data on trade in services and foreign direct investment are based on balance of payments data. Remarkable trade and investment agreements between Canada and Sweden In 2004, Sweden was the first European country to join the International Model Forest Network, initiated by Canada. Sweden`s active membership in two model forests in Sweden has expanded the relationship between the Indigenous peoples of Canada and the Samian peoples of Sweden. Balance of payments data: Balance of payments data calculate trade flows on the basis of surveys of international trade and investment by enterprises and other enterprises. .

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