Free trade agreements are essential for international trade and commerce, as they establish a set of rules and regulations that govern the exchange of goods and services between countries. Canada, being a trade-oriented nation, has signed and ratified various free trade agreements (FTAs) with other countries, with the aim of strengthening its economy and promoting global trade.

Here are the key FTAs that Canada has signed:

1. North American Free Trade Agreement (NAFTA): Canada signed the NAFTA with the United States and Mexico in 1994, creating a trilateral trade bloc that eliminated tariffs on most goods and services traded between the three countries. In 2018, NAFTA was renegotiated and replaced by the United States-Mexico-Canada Agreement (USMCA).

2. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): The CPTPP is a trade agreement between 11 countries, signed in 2018. It replaced the Trans-Pacific Partnership (TPP), which included the United States before their withdrawal. The CPTPP reduces tariffs and non-tariff barriers, and sets standards for labor rights and environmental protection.

3. Canada-European Union Comprehensive Economic and Trade Agreement (CETA): The CETA is a trade agreement between Canada and the European Union (EU), signed in 2017. It eliminates tariffs on 98% of goods traded between Canada and the EU, increases access for Canadian services and investments, and sets high standards for labor, environmental, and consumer rights.

4. Canada-Korea Free Trade Agreement (CKFTA): The CKFTA is a trade agreement between Canada and South Korea, signed in 2014. It eliminates tariffs on most goods traded between the two countries, increases access for Canadian services and investments, and sets standards for intellectual property and government procurement.

5. Canada-Chile Free Trade Agreement (CCFTA): The CCFTA is a trade agreement between Canada and Chile, signed in 1997. It eliminates tariffs on most goods traded between the two countries, increases access for Canadian services and investments, and sets standards for labor and environmental rights.

These FTAs have had a profound impact on Canada`s economy, as they have helped to increase exports, attract foreign investments, and create jobs. Furthermore, they have strengthened Canada`s diplomatic relations with its trading partners, and allowed Canadian businesses to access new markets and diversify their operations.

In conclusion, free trade agreements are vital for promoting global trade and economic growth. Canada`s participation in various FTAs has helped to create a more favorable environment for its businesses to thrive, and has opened up new opportunities for trade and investment. As such, Canada will likely continue to prioritize its involvement in FTAs, as it seeks to expand its reach in the global economy.