Private Sector Not Prepared for Post-NAFTA WorldJanuary 26, 2018
Toronto, January 26, 2018 – With North American Free Trade Agreement (NAFTA) discussions currently taking place in Montreal, the Ontario Chamber of Commerce (OCC) released concerning survey results from its membership. Results show that Ontario businesses are not well-prepared for the impact of these renegotiations and want their governments and industry associations to more aggressively advocate on their behalf.
Key sectors that are the most susceptible to the impact of NAFTA renegotiations include the manufacturing, agricultural, and the professional services industries. Cross-border trade in services and customs procedures are by far the most important issues for Ontario businesses followed by the impacts on tariffs, equipment price and availability, cost of healthcare goods, temporary entry for businesses persons, and the impact of renegotiation on software purchases.
“With only 15 percent of respondents having contingency planning started, Ontario companies are not prepared for how NAFTA renegotiations may impact their organization,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Our members have made it clear—governments and industry organizations must work together to ensure their concerns are being represented in the negotiations.”
The OCC conducted a voluntary survey of its members from December 15, 2017, to January 15, 2018. On behalf of its Ontario Chamber Network and corporate members, the OCC is presently providing these details in a series of briefings with senior government officials to help shape their approach and ensure the concerns of Ontario business are being represented at the negotiation table.
“While these renegotiations must consider the impact on business, governments have an opportunity for modernization to address vulnerabilities in the current North American Free Trade Agreement and ensure the agreement reflects current realities and trends,” said Rossi.
For more information please contact:
Ceara Copps Edwards