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Canada and the US enjoy a long history of successful economic integration and cooperation. According to an Export Development Corporation report, in 2003 US companies had US$1.8 trillion of physical assets in foreign countries and US multinationals imported US$530bn (reflecting US$200bn of the US trade deficit) from their foreign affiliates. With two-way trade in goods and services of more than US$441bn in 2003, the US-Canada trading relationship is the largest in the world. If cross-border business restructurings are impeded by legislative or bureaucratic hurdles, ready access to capital markets and effective cross-border business integration can be impeded with far reaching ramifications for business on both sides of the US-Canada border.

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