Government Ratifies CUSMA
March 18, 2020
As one of its final acts prior to the government suspending parliament due to the current pandemic, MPs from all parties voted to ratify the Canada – United States – Mexico Agreement (CUSMA) on Friday, March 13.
According to Reuters, the House of Commons agreed to instant approval on Friday after opposition MPs dropped their objections. The upper Senate chamber backed the pact later in the day.
CIAC recognizes the efforts that went into ratifying this important legislation, especially during this difficult time where co-operation between nations will be crucial to rebuilding the North American economy.
The chemistry industry is one of the most internationally traded sectors in the world, with CUSMA partners having traded approximately $70 billion worth of chemistry products in 2018 according to the American Chemistry Council (ACC).
A strong and open trading relationship with our North American neighbours is the cornerstone of Canada’s economy and for the continued success of the chemistry sector. The trilateral trade agreement between the three countries will help attract investment and continue to develop an efficient, highly integrated chemicals supply chain across North America.