Air Canada yesterday commended the Governments of Canada, the United States and Mexico on reaching a new trade agreement to replace the North American Free Trade Agreement (NAFTA) – the United States-Mexico-Canada Agreement (USMCA).
The Canadian legacy carrier said the deal signed removes “much of the uncertainty overhanging trade and business between the three countries”.
Washington and Ottawa reached an agreement on Sunday after weeks of tense bilateral talks to update the 1994 penned NAFTA. The US had forged a separate trade deal with Mexico, the third member of NAFTA, in August.
Air Canada president and chief executive, Calin Rovinescu said: “While the details of the agreement need to be fully assessed, the proposed USMCA should not only promote greater trade and economic stability, but also provide numerous opportunities for future growth.
“Air Canada supports all initiatives that encourage travel between Canada, the US and Mexico, especially those that also strengthen their respective economies.
“Air Canada is the largest foreign carrier serving the US based on markets served and our success within North America has provided a foundation for our international expansion to over 100 other destinations around the world.”
UPS has also commended the U.S., Canada, and Mexico for “modernising” a pact that it said it vital to all three economies.
UPS chairman and chief executive officer, David Abney said: “The new USMCA better reflects today’s digital economy and presents significant opportunities for our business and our customers, especially our small and medium-sized exporters.
“The US-Mexico-Canada agreement will take time, cost and complexity out of trade; accelerate the release of goods through customs; and support the participation of more small businesses in regional and global supply chains.”