Canada To Ratify Colombia FTA

by Mike Godfrey, Tax-News.com, Washington

11 March 2010

Peter Van Loan, Minister of International Trade, and Jean-Pierre Blackburn, Canadian Minister of Veterans Affairs and Minister of State (Agriculture), on March 10 tabled legislation to implement the Canada-Colombia Free Trade Agreement. At the same time, the Canadian government is also tabling parallel labour and environment agreements with Colombia.

“International trade is critical to our economic recovery,” said Van Loan. “As we move beyond stimulus spending and diversify opportunities for Canadian business abroad, this free trade agreement will help Canadians prosper. At this time of global economic recovery, Canadians can count on our government to oppose protectionism and defend free and open trade on the world stage. Canadian businesses and workers can compete with the best in the world, and this agreement will help them do it.”

The Canada-Colombia Free Trade Agreement will provide greater market access for Canadian exporters of goods such as wheat, pulses, barley, paper products and heavy equipment. An increasing number of Canadian investors and exporters are entering the Colombian market, and it is also a strategic destination for Canadian direct investment, especially in mining, oil exploration, printing and education.

This free trade agreement is part of a broader international trade strategy to improve Canadian companies’ access to key international markets and to enhance opportunities for Canadian exporters and investors. Canada has free trade agreements in force with Chile, Costa Rica, the European Free Trade Association countries, Israel, Peru, and a trilateral agreement with Mexico and the United States. It has concluded free trade negotiations with Jordan and Panama and is continuing trade talks with the Caribbean Community, Central America, the Dominican Republic, the European Union, India and the Republic of Korea.

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