Canada - The new global economy - Essay Example

Through these trading activities, the country will realize improvement of its local infrastructure, increased job opportunities, and increased revenue collected from traders within and outside the country. Moreover, the country is also set to experience increased supply of goods and services that enhances the living standards of the locals. International trade and relations play an essential role in the growth and development of the Canadian economy. In the recent years, the country has hugely credited its growth and development to international trade and relations with other countries.

Through international trade, Canadians can access the international markets and interact with numerous traders from all over the world. According to Bowen, Hollander, & Viaene (2012), the international markets offer various buyers and consumers who purchase Canadian products at relatively fair prices. As a result, traders and producers manage to sell many goods to the international community. Moreover, according to Passaris (2015), Canadians also have access to other essential goods and services from other countries.

These products are affordable and are useful for both local consumption and production of other commercial goods. Through this, the country is assured of revenue from trade and consumers are assured of affordable quality goods and services from other countries. From these, Canadians quickly experience economic growth due to the revenue collected from trade. Moreover, these citizens are also assured of improved living standards since they easily access a range of basic goods at an affordable price.

Thus, for the country to enjoy future economic growth and development, they must actively participate in trading activities. Equally important, the country has numerous trade agreements with other countries around the world. The most notable examples of trade relations Canada has with various countries are the North American Free