The Chamber is pleased to publish the volume 18 of our quarterly EXCHANGE magazine. This magazine includes select articles from our members, event highlights and more.
Here are some highlights:
The China-ASEAN Free Trade Agreement (CAFTA) is a comprehensive economic cooperation agreement between China and the ten member countries of the Association of Southeast Asian Nations (ASEAN). Under the initial framework agreement that took effect in 2010, trade between China and six ASEAN nations – Brunei, Indonesia, Malaysia, The Philippines, Thailand and Singapore – became duty-free for more than 7000 products. In 2015, four additional ASEAN countries – Vietnam, Laos, Cambodia and Myanmar – joined the zero-tariff arrangement, and duties on other “highly sensitive” commodities were cut to no more than 50%. The revised CAFTA is expected to raise bilateral trade to USD 1 billion by 2020. Read more here.
As a global model for political stability and economic prosperity, Canada has become a premier market for real estate investors. Canada’s largest city, Toronto, is seeing tremendous population and job growth which has led to tremendous house price appreciation. The strong demand for housing coupled with a low Canadian dollar has caught the eye of smart money from around the globe looking to invest in the multifamily sector. Read more here.
It was not necessary. For many local Vancouverites, it was a necessary measure long overdue. For some, it was unwarranted and brash as the tax didn’t “grandfather” existing deals (i.e. contracts signed set to be closed after the tax became effective). Thus, thousands of unfortunate buyers had to finance additional 15% to close their purchases. Regardless how you see it, the tax is here to stay and who knows if any other policies will be put in place to cool down Vancouver’s hot real estate market. Read more here.
More great articles can be found here>>