CANADA TABLES FREE TRADE AGREEMENT WITH COLOMBIA
Engaging in a dynamic emerging market of 45 million people and an economy with high growth potential
(No. 98 – March 10, 2010 – 3:45 p.m. ET) The Honourable Peter Van Loan, Minister of International Trade, and the Honourable Jean-Pierre Blackburn, Minister of Veterans Affairs and Minister of State (Agriculture), today followed through on a commitment made in last week’s Speech from the Throne by tabling legislation to implement the Canada-Colombia Free Trade Agreement. At the same time, the government is also tabling parallel labour and environment agreements with Colombia.
“International trade is critical to our economic recovery,” said Minister 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.
“The Free Trade Agreement, along with its parallel agreements on labour and the environment, is but one of several Government of Canada instruments that support Colombia’s efforts toward greater peace, security and prosperity,” said Minister Van Loan.
Under the Labour Cooperation Agreement, Canada and Colombia agree to respect and enforce internationally recognized labour standards and principles, such as freedom of association, the right to bargain collectively, and the elimination of child labour, forced labour and workplace discrimination. The Agreement on the Environment commits Canada and Colombia to pursuing high levels of environmental protection as the two countries intensify their commercial relationship, and to avoid weakening their environmental laws to encourage trade or investment.
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 Mexico and the United States together. It has concluded free trade negotiations with Jordan and Panama. Canada is continuing trade talks with the Caribbean Community, Central America, the Dominican Republic, the European Union, India and the Republic of Korea.
