BSM 100 – Takeaway ExamQuestion #1: Korea Free Trade Agreement (CKFTA)Based on my research regarding the Canada-Korea Free Trade Agreement (CKFTA), I agree with the 41% of Canadians who support a free trade agreement with South Korea. According to Stephen Harper and the Prime Minister's official website, the main objective of entering into this trade agreement with South Korea is to create jobs and opportunities for Canadians in all regions of the country. Trade is expected to create benefits for Canadian populations, giving Canadian businesses and workers access to Korea - something they have not had before - which has an annual gross domestic product of $1.1 trillion. dollars and a population of 50 million which continues to grow. grow (Soeul, 2014).Benefits for consumersTrade will provide Canadians with thousands of new jobs in various sectors such as the industrial goods sector, which deals with information and communications technology, aerospace, metals and minerals and much more. Besides the industrial sector, the agricultural sector will also see new jobs created in agricultural products, food products, wine, seafood and other food products. The wood and forest products industries will also benefit from an increased labor market. Along with the increase in jobs, there will be a huge increase in Canadian exports to Korea, which is expected to increase exports by 32% and boost the Canadian economy by 1.7%. billion every year. Regarding imports, there will be a reduction in tariffs and non-tariff measures for Canadian businesses. When the agreement is fully operational, Korea will eliminate duties on 98.2 percent of its tariff lines covering the majority of Canada's imports. Korean tariffs are currently about three times lower on paper to protect against surges in imports when the deal is finalized (Soeul, 2014). Korean tariffs will be eliminated on all light vehicles (tariffs of 8 percent) and all automobile parts (tariffs ranging from 3 to 8 percent) (Soeul, 2014). Canadian producers and exporters of automotive products already have the resources and capabilities to export. to other Asian countries. The Canada-Korea Free Trade Agreement will provide a significant advantage to Canadian automotive players seeking to further expand market opportunities in Korea (Soeul, 2014). beneficial to Canada for a variety of reasons, including those discussed above. I believe that if more people were better informed about this profession, then the percentage of the population who would agree would be much higher than 41%.