Canada-U.S. trade gets FAST
· Date: 2002-12-17
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The United States and Canada enjoy the largest bilateral trading relationship in the world, totalling US$272 billion, according to the Ontario Trucking Association Web site. Canada accounts for 22% of U.S. exports and Canada's US$145 billion exports to the U.S. equal about 25% of that country's Gross Domestic Product.
That trade practically came to a screeching halt in the days following 9/11, but things are getting back on track now with the new Free and Secure Trade (FAST) program going into effect at all three high-traffic Ontario-U.S. border crossings today. Other major crossing will join the program by the end of December.
The program offers expedited clearance processes to those carriers and importers who have enrolled in the U.S. Customs - Trade Partnership Against Terrorism (C-TPAT) or Canada's Partners in Protection (PIP) program.
The program offers streamlined processing for drivers, carriers, and importers
who are low-risk trade chain participants with sound and secure business practices.
