Thursday, March 26, 2009

Minister Day Introduces Legislation to Implement Colombia and Peru Free Trade Agreements

(Minister of International Trade)

The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that legislation has been introduced in the House of Commons for the free trade agreements (FTAs) Canada recently signed with Colombia and Peru. These agreements will open new doors for Canadian companies doing business in Colombia and Peru by expanding market access in key sectors such as extractive industries, manufacturing, agriculture and financial services.

“Canada is taking action during these difficult economic times by reaching out to our trading partners and reducing the barriers that undermine our mutual prosperity,” said Minister Day. “These agreements provide our companies with a competitive edge in many sectors, including wheat, paper products, mining, oil and gas, engineering and information technology. This is another example of the government’s efforts to deepen Canada’s presence in Latin America.” […]

In 2008, two-way merchandise trade between Canada and Colombia totalled more than $1.3 billion, while two-way merchandise trade between Canada and Peru reached $2.8 billion. Read more here.