The end of the NAFTA does not scare Sabia

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Philippe Orfali

Thursday, 25 January 2018 18:42

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Thursday, 25 January 2018 18:44

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The end possible of the free trade Agreement north american (NAFTA) does not scare Michael Sabia. Of Davos where it is in the framework of the world economic Forum, the CEO of the Caisse de dépôt et placement du Québec believes that the canadian economy would be very well if the United States would eventually withdraw from the negotiating table.

While the talks between negotiators canadians, mexicans, and americans continue until Sunday in a hotel in the city center of Montreal, Michael Sabia is reassuring.

The “catastrophic” scenario, advanced by a number in case of departure of the Member-States of NAFTA was not to be realized simply no, he stated in interview to agency Bloomberg.

The current agreement dates back to there are already a quarter of a century, he recalled, stressing that the north american economies had changed a lot since then, mainly because they have not ratified free trade agreements with other countries during this period.

In the event of the end of the NAFTA, “is that our economies will disintegrate? I don’t think so. What I think is that Canada must continue to negotiate, using its position of strength [in order] to arrive at the good agreement. Not just any, but one that will work for the next 25 years.”

“And if the United States say they want to do something else [in the NAFTA], well, let it be so”, he continued.

The lack of progress in Montreal

No major progress has been observed in the tables of negotiations in Montreal since the beginning of the talks, Sunday last. Envoys of the president Donald Trump remains adamant and their margin for manoeuvre is extremely limited. Canada is still trying to present “creative solutions” to many of the issues raised by the Americans.