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| Canada Notes Significant Progress On Free Trade In 2011 |
by Mike Godfrey, Tax-News.com, Washington
Wednesday, December 28, 2011
The Canadian government has noted the conclusion of a productive third round of
negotiations with India towards a free trade agreement, in talks in Delhi and
at the Eight Ministerial Conference of the World Trade Organisation, rounding off a hugely sucessful year for Canada in its quest to achieve freer trade links with its trading partners.
Ed Fast, Canada's Minister of International Trade and Minister for the Asia-Pacific
Gateway noted that the government has made significant progress during the year
towards its free trade agenda, with the highlights including:
- The entry into force of the Canada-Colombia Free Trade Agreement on August
15;
- The conclusion of negotiations toward a Canada-Honduras free trade agreement;
- The tabling of legislation to enact free trade agreements with Jordan and Panama;
- Continued progress toward a Canada-European Union trade agreement and a Canada-India
trade agreement;
- Canada’s signing of the historic Anti-Counterfeiting Trade Agreement, which
will combat trade in counterfeit and pirated goods while helping to ensure innovation- and knowledge-based prosperity;
- Adoption of the Joint Declaration on Trade and Investment with the Association
of Southeast Asian Nations to increase Canada’s trade and investment ties in
the region;
- The launch of exploratory trade talks with Mercosur, South America’s largest
common market;
- Minister-led trade missions to Brazil, China and India - three of the largest
and fastest-growing markets in the world; and,
- The announcement in November of Canada’s intention to enter into formal consultations
to join negotiations on the Trans-Pacific Partnership.
“Jobs and economic growth to benefit Canadian businesses, workers and their
families continues to be our government’s top priority,” said Fast. “With one
in five Canadian jobs linked to trade, deepening Canada’s trading relationships
in priority markets around the world is key to protecting and strengthening
the financial security of hard-working Canadians.”
“Canada remains a strong and active supporter of the multilateral trading system.
We are working to ensure that the credibility and effectiveness of the WTO system
is safeguarded,” said Fast. “In these uncertain economic times, protectionism
is poisonous to our efforts to create jobs and economic growth. Simply put,
there is no better job creator than free and open trade.”
On free trade negotiations currently under way in priority markets around the
world, Fast expressed optimism with the progress being made toward a Canada-India
trade agreement. The third round of negotiations was held December 13-16, 2011,
in Delhi.
“As agreed with my counterpart, India’s Minister of Commerce and Industry, Anand
Sharma, during my recent trade mission to India, our countries are committed
to an ambitious schedule for negotiations,” said Fast. “Discussions are advancing,
and Canada is aiming to conclude negotiations in 2013.”
In less than six years, Canada has concluded new free trade agreements with
nine countries: Colombia, Jordan, Panama, Peru, the European Free Trade Association
member states of Iceland, Liechtenstein, Norway and Switzerland, and most recently
with Honduras.
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