Student or Learner
Canada and South Africa Official Trade Agreement
Objective - Goal
1. To reinforce trading relationships between the two counties.
2. To improve both economies financially- through jobs, exports and imports of goods and services.
3. Minimize trade barriers, tariffs, and duty free.
4. Promoting economic development- this will help construct productive jobs and raise incomes.
Terms of the Agreement
1. Eliminate tariffs and other trade barriers, and promote fair trading competition among the countries.
2. Intellectual property rights, patents, copyrights, trademarks, and technological design area protected.
3. When importing goods and services, they must fulfill the standard requirements.
4. The trade agreement will last for 3 years upon both nations. If the countries would like to continue the trade, the agreement can be renewed.
5. Both parties will hereby agree to not discuss any information regarding the trade agreement with other countries.
Parameters of trade products
1. Foods, products, and services being imported and exported must reach the health and regulation standards for each nation.
2. The Republic of South Africa will trade natural resources such as gold, diamonds, ferrochrome, platinum, and vanadium.
3. Canada will trade natural resources such as crude oil, coal, petroleum gasses, lumber, and potash.
Impediments to trade (barriers)
1. There will be limit when it comes to the amount of natural resources that can be imported and exported into the countries.
2. The exchange rate between the countries may change the amount of money, since the dollars and currencies are different. So before the trade begins, the currencies are balanced out.
Established Labour Laws and Safety Regulations
1. All workers must get professional training and have to be aware of the safe and health regulations, before starting the job.
2. All workers must wear their safety equipment and uniform at all times during work time.
3. All workers must pass the working age requirement.
4. All workers must have holidays, lunch breaks, minimum wages, and overtime pay.
Roles and Reasonability of Multinational
1. Canada and South Africa are required to report the progress of the trade for every six months.
2. Canada and South Africa are required to inspect the work environments yearly to reach the health and safety regulations.
3. Canada and South Africa are required to regularly discuss the effectiveness of CASAOTA, consider improvements, changes, and future plans.
Welcome to the forum.
Do you have an English language question for us?
Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.