Canada Promoting Latin American Trade Links

by Mike Godfrey, Tax-News.com, Washington

15 February 2013

Canada's Foreign Affairs Minister is visiting a number of Latin American countries to pursue its membership of the Pacific Alliance, and promote the Government's trade agenda.

John Baird will visit Mexico, Peru, Panama, the Dominican Republic, Cuba and Venezuela during a week-long trip. While in Mexico and Peru, the intention is for Baird to pursue the steps needed for full Canadian membership in the Pacific Alliance.

Canada became an official observer at the Pacific Alliance in November 2012. The countries he is planning to visit are among the Alliance's founding members, and are described by the Canadian Foreign Affairs Ministry as four of Latin America's fastest-growing economies.

The Pacific Alliance was formed in April 2011, with the aim of facilitating regional economic integration in a way that complemented existing bilateral agreements between members. Members are also seeking the free movement of goods, services, capital and people among themselves, while strengthening trade and investment ties with Asia. The Alliance has a combined population of 215m and a gross domestic product (GDP) of more than USD2 trillion.

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