The reason, according to Simon Fraser University economist Richard Harris, a strong proponent of the trade deal, is that "perfectly secure access to the U.S. market was not achieved." Indeed, Harris said, "small countries within regional free trade agreements with uncertain or imperfect market access are at a clear disadvantage in attracting inward foreign direct investment whose purpose is to serve the regional market."
Harris, who was speaking at a recent University of Toronto symposium honouring Ed Safarian, one of the world's leading scholars on foreign investment, noted Canada's share of foreign direct investment in the three countries of the North American Free Trade Agreement (Canada, the United States and Mexico) had shrunk to 13 per cent last year from 21 per cent in 1990.
Stumble It!
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Dave Ruston