CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Canadian Minister To Lead African Trade Mission

Canadian Minister To Lead African Trade Mission

by Mike Godfrey, Tax-News.com, Washington

22 October 2012


Canada's Minister of International Trade Ed Fast is to head up a trade mission to Ghana and Nigeria next year as the government seeks to open new markets and create business opportunities.

Fast will be accompanied on his visit by representatives of Canadian companies in the extractive and infrastructure sectors.

Announcing the mission, Fast said: “With Africa one of the fastest-growing economic regions in the world, our government is committed to opening new markets and creating new opportunities for Canadian workers and businesses throughout the continent. Canadian companies that succeed in international markets also create good jobs and greater prosperity here at home.”

Bilateral merchandise trade between Canada and Ghana reached CAD321m (USD323m) in 2011, a 61% increase over 2010. The same year, trade with Nigeria totalled over CAD2.7bn, up 44% since 2010 and 300% since 2009. Nigeria is now Canada’s largest trading partner in sub-Saharan Africa.

Canada is currently in negotiations toward a free trade agreement with Morocco and also for foreign investment promotion and protection agreements (FIPAs) with numerous African countries including Benin, Burkina Faso, Cameroon, the Ivory Coast, Ghana, Tunisia and Zambia. A FIPA has just been concluded with Senegal. According to Fast, once these FIPAs enter into force, they will provide the stable, transparent and predictable environment necessary to give Canadian businesses greater confidence.

“More and more African economies are embracing trade and investment as an engine for growth and poverty reduction. I am pleased to be leading a trade mission to a region where world-class Canadian companies are creating jobs and prosperity and proving the win-win benefits of closer economic ties,” Fast concluded.

TAGS: Morocco | business | free trade agreement (FTA) | Burkina Faso | Niger | Nigeria | trade treaty | agreements | Benin | Cameroon | Canada | Senegal | Tunisia | Zambia | trade | Ghana

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »