Canada’s Laggard Performance
Canada will be the last of the three countries to ratify the North America Free Trade Agreement. Mexico and the US have approved the deal. The President of the US signed it Tuesday, having passed the Congress a couple of weeks ago. Canada has just introduced the agreement to Parliament. We are not known for being “quick off the mark”, are we?
On a number of occasions I have highlighted Canada’s poor performance compared to other countries on ease of doing business. I have used the World Bank Study that showed for last year Canada coming in a dismal 23. In two areas in particular we did really bad – 122 in time it takes to get an electrical permit, and 68 in time it takes to get a construction permit.
Now comes another study from the CEO World Magazine (Best Countries To Invest In Or Do Business) that shows Canada coming 34 out of 67 countries studied. Malaysia was in top spot followed by Poland and the Philippines. Here is how the study was conducted:‘The rankings were based on 11 different factors including corruption, freedom (personal, trade, and monetary), workforce, investor protection, infrastructure, taxes, quality of life, red tape, and technological readiness. Each category was equally weighted.”Here are some other countries that are ahead of us according to this study: Thailand, Uruguay, Chile, Bulgaria, Slovenia and and Vietnam.
Of course, almost all the western European countries are ahead of Canada.
And not surprisingly the two other members of the North American Free Trade Agreement, Mexico and the USA, are also ahead of us.