Minister Promotes Canada, Peru Trade

by Mike Godfrey, Tax-news.com, Washington

16 April 2012

Canada's Minister of International Trade has been promoting the benefits of a deepened Canada-Peru trade and investment partnership, stressing that the relationship creates jobs, prosperity and positive change.

Ed Fast was in Lima, Peru as part of a trip to promote Canada's prosperity agenda. There he met with Peru's Ministers of the Interior, Foreign Trade and Tourism, and Foreign Affairs. The meetings were held as negotiations continue with all current members of the Trans-Pacific Partnership (TPP). Canada has shown interest in joining TPP negotiations, a move Fast believes would benefit workers, businesses and families in all member countries.

He explained, “Canada’s strong and growing ties in the Asia-Pacific region are thanks in large part to the bilateral partnerships we’ve formed with countries like Peru. That is why I am pleased that in all of my meetings and discussions to date, including here in Peru, Canada’s interest in joining the TPP talks has been positively received. Canada’s inclusion in the talks at the earliest opportunity is yet another way to spread the mutual benefits of increased trade and closer economic cooperation.”

Fast went on to add, “Deeper trade and investment benefits hard-working Canadians and Peruvians alike by providing new sources of jobs and growth, lower prices for goods and services for families and higher wages for workers. Since our trade agreement with Peru came into force in 2009, our bilateral trade has increased by over 50%, making Peru Canada’s third-largest trading partner in Latin America. This is helping bring long-term prosperity to workers and businesses in both countries.” Bilateral trade reached CAD4.9bn last year, an increase of 19.4% on the previous year.

Commenting on Fast's visit, Diane Ablonczy, Minister of State of Foreign Affairs (Americas and Consular Affairs) noted: “Prosperity, security and democracy anchor our engagement with our neighbours, friends and partners in the Americas. Countries in the Americas are demonstrating that there is an undeniable link between increased prosperity and improved social and political conditions.”