ARTICLE: Trade Agreements and What Businesses Need to Know
If your business is interested in supplying goods or services to the Canadian government, understanding trade agreements and the thresholds that trigger them is essential. These thresholds determine whether your contract is subject to open competition rules under domestic or international trade deals. This blog explains what trade agreements are, how they affect public procurement, and how you can prepare your business to take advantage of them. What Are Trade Agreements? Trade agreements are legal frameworks that Canada signs with other countries or trade blocs to promote fair, transparent, and competitive trade. In public procurement, they ensure that qualified businesses, both Canadian and foreign, have equal access to government contracts once certain monetary thresholds are reached. These agreements require public buyers to: Advertise procurement opportunities Treat all bidders equally Follow non-discriminatory and transparent procedures What Is a Procurement Threshold? ...