Free Trade Critical to Expanding Trade Opportunities for Both United States
and Missouri - BMO Economics
ST. LOUIS, Oct. 4, 2012
ST. LOUIS, Oct. 4, 2012 /PRNewswire/ -- The Canada-U.S. Free Trade Agreement
(FTA), signed 25 years ago, has played a critical role in the expansion of
trade with our northern neighbors, both for Missouri and the United States as
a whole, according to BMO Economics.
"Trade between Canada and the United States has grown at an annualized rate of
5 per cent since 1990," said Doug Porter, Deputy Chief Economist, BMO Capital
Markets. "Despite currency fluctuations, global commodity prices, and two
deep downturns, trade between the two countries has strengthened considerably
since the start of the FTA."
"Trade between Canada and Missouri has increased at an annualized rate of 6.8
per cent since the FTA came into effect," said David Warning, Executive Vice
President, BMO Harris Bank. "Free trade has clearly been a success for
Missouri businesses, placing them in a strong position for future growth."
Porter also noted that foreign direct investment between the two countries has
grown considerably since the signing of the FTA. "U.S. direct investment in
Canada has jumped from $63 billion at the end of 1988 to $319 billion by the
end of 2011. As well, the stock of Canadian FDI in the U.S. has risen from
$42 billion to $270 billion."
Canadian Trade % change
Value With U.S. annualized
States (1990-2011) rate
NEW HAMPSHIRE 13.1
NEW MEXICO 12.2
WEST VIRGINIA 7.9
NORTH DAKOTA 7.9
SOUTH DAKOTA 7.9
RHODE ISLAND 6.8
SOUTH CAROLINA 6.6
NORTH CAROLINA 5.9
NEW JERSEY 5.5
NEW YORK 3.7
About BMO Harris Bank
Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal
banking products and solutions through over 650 branches and approximately
1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota,
Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team
provides a combination of sector expertise, local knowledge and mid-market
focus throughout the U.S. Deposit and loan products and services provided by
BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by
BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North
American financial organization with 1,600 branches, and a retail deposit base
of approximately $180 billion.
SOURCE BMO Harris Bank
Contact: Beth Copeland, +1-317-269-1395, firstname.lastname@example.org
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