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History of International Buisness in Canada
By Paul Sacco
1400s
1497
1534
Jacques Cartier explores the coasts of Newfoundland, Prince Edward Island, and New Brunswick on June 24th. He arrives on the Gaspe Peninsula and claims it for France.
1604
In order to gain control of the fur trade, Samuel de Champlain arrived in North America to establish the first permanent settlement. Later on, he secured a monopoly on the fur trade, which allowed him to establish this settlement.
1670
A group of wealthy British businessmen founded the Hudson's Bay Company, now known as the HBC, while the King of England granted the company a fur trade monopoly over all of the land surrounding the Hudson's Bay river.
1700
Trade expanded rapidly after permanent settlements were established. Because there was little manufacturing in Canada at the time, finished goods were shipped from British or French companies in other countries.
1779
A group of 16 merchants formed the North West Company. They grew into a major rival to the Hudson's Bay Company.
1816
1821
The Hudson's Bay Company merged with the North West Company to form the Hudson's Bay Company.
The US government passed legislation making fur trading by Canadians in the US illegal.
1881
The Canada Pacific Railroad was built to connect Canada and Canadians from coast to coast. The Canadian Federation established a new country on July 1, 1867, by uniting four eastern provinces. As part of the agreement, Nova Scotia and New Brunswick have agreed to build a railway connecting to Canada's central provinces of Quebec and Ontario.
1950
1914
Japan has entered the North American market. Japan brought low-cost electronics, toys, and automobiles that are now available in Canada.
World War I strained relations between Canada and the United States, affecting their trading. Canada's exports have become significantly more geographically diverse.
1995
The World Trade Organization was established. This was used to facilitate free trade by requiring all signatories to have mutual most favoured nation trading status. It succeeded the GATT, which began in 1947.
2000
Canada and China grew significantly as trading partners, and are now our second largest trading partners.
2009
The recession affected Canada, as well as the rest of the world. As a result, consumer confidence fell, resulting in less spending. A significant number of jobs were also lost.
2008
Canada signed a free trade agreement with Israel and shipped more than $1.2 billion in medicine, diamonds, engines, and other goods.
2009
Canada and the European Free Trade Association signed a free trade agreement. Iceland, Norway, Switzerland, and Liechtenstein were among those included.
2011
A free trade agreement with the Republic of Korea was signed. This is Canada's first free trade agreement with an Asian country.
2017
The Honourable Francois-Philippe Champagne, Canada's Minister of International Trade, announced that the country had taken another step towards gender equality. Allows both countries to modernise the 20-year-old Free Trade Agreement.