The St. Thomas Economic Development Corporation says that a newly signed North American Free Trade agreement (NAFTA) will help to provide certainty for local businesses. Deputy Prime Minister Chrystia Freeland signed the new deal between Canada, Mexico and the United States in Mexico City yesterday.
CEO of the St. Thomas EDC Sean Dyke says that before a deal was signed, companies were hesitant to grow into the St. Thomas area because they were unsure as to what future trade with the US would look like.
Dyke says that the biggest impact locally that he will be looking for will be ease of trade
Dyke says that a new NAFTA was not only on the minds of North American businesses, as he has recently returned from a trade trip to Japan where companies there who were looking to invest in Canada were keeping a close eye on the process.
While the deal is signed it must now be ratified by each country.
