(Transport Canada)
Today the Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway, and Canada’s Transport and Infrastructure Minister John Baird concluded their tour of port facilities in Kitimat and Prince Rupert, British Columbia.
“These ports are vital to boost trade between Canada and the growing economies of the Asia-Pacific region,” said Minister Day. “They provide Canada with a crucial edge in the competition among North American west coast ports for business with Asia. This is another example of the competitive economic advantage that our government is aggressively promoting.”
“Our visit was a great opportunity to see the investments our government is making to modernize and strengthen the ports in this region,” added Baird. “As demonstrated by today’s tour, our investments have paid off and helped attract more business.”
During their visit, both ministers toured the harbour facilities in Kitimat, where they saw first-hand why the area is increasingly recognized as a strategic hub to support Canada’s energy development in the northwest region. Kitimat industries have produced up to 12 per cent of British Columbia’s manufacturing GDP and currently export over $1 billion a year in manufactured products.
The visit continued at the Port of Prince Rupert, the second-largest deep-sea port on Canada’s West Coast and the deepest natural harbour in North America. With dedicated grain, coal, forest products, specialty grain and container-handling facilities, the port handled 12.2 million tonnes of cargo in 2009, up 15 per cent from the previous year. Shipping through the Port of Prince Rupert reduces steaming time between Asia and North America by two to three days and cuts a further one to two days off the dwell time at the container port, resulting in a three- to five-day time saving (over a normal 17-day trip). From Prince Rupert, rail links can quickly transport goods right into the heart of North America.
Operations at the Port of Prince Rupert and the Port of Kitimat contribute to the economic well-being of these communities. An economic impact study released by the Port Rupert Port Authority demonstrated that, as of October 2009, the port was a significant economic generator, with direct employment related to operations totalling 1,500 jobs.
While in Prince Rupert, the ministers toured the Fairview Container Terminal. They also visited Ridley Terminals, a federal Crown corporation that operates a bulk handling terminal for the efficient and reliable movement of coal and other bulk commodities.
Canada’s Asia-Pacific Gateway is a system of transportation infrastructure that includes British Columbia Lower Mainland and Prince Rupert ports, road and rail connections that reach across Western Canada and into the economic heartland of North America, as well as major airports and border crossings. Since 2006, the Government of Canada, through its Asia-Pacific Gateway and Corridor Initiative, has partnered with B.C. and other western provinces, municipalities and the private sector to undertake strategic infrastructure projects worth more than $2.8 billion, including federal contributions of over $1 billion.
Showing posts with label Stockwell Day. Show all posts
Showing posts with label Stockwell Day. Show all posts
Wednesday, July 21, 2010
Ministers Day and Baird Tour Port Facilities in British Columbia
Wednesday, January 13, 2010
New Initiative to Help Canadian Businesses Expand to Developing Countries
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today [Wednesday] marked the creation of a $20million program to support Canadian businesses that want to invest responsibly in developing countries. Effective today, Investment Cooperation (INC) replaces the Canadian International Development Agency’s Industrial Cooperation (CIDA-INC) program.
“This program will make it easier for innovative Canadian companies to contribute to economic growth and poverty reduction in developing countries,” said Minister Day. “This will create jobs both at home and abroad.”
INC funding will be used to help Canadian companies complete the following phases of the investment cycle:
• The viability phase: feasibility of an investment is investigated.
• The demonstration phase: technology is adapted and demonstrated.
• The sustainability phase: plans are developed to enhance a project’s economic, social and environmental sustainability.
• The implementation phase: activities are undertaken to enhance the sustainability of the project.
Program applicants and clients must demonstrate adherence to strict international corporate social responsibility (CSR) standards in order to receive funding. The program complements CSR measures announced by the Government of Canada in March. These included the creation of a CSR counsellor’s office and support for an external CSR centre of excellence that would provide information to companies, non-governmental organizations and others.
Applications will be processed more quickly than under the previous CIDA-INC program to ensure timely review and approvals. A service standard of 40 working days from submission of a completed application to approval has been introduced. Other changes include the expansion of the program to projects in most countries eligible for international development assistance, including China, Mexico, Malaysia and Thailand.
In 2007, the Government of Canada started implementing the Global Commerce Strategy. The Strategy’s objective is to support Canadian firms as they pursue opportunities in the global marketplace. The INC program will support the Strategy by increasing Canadian direct investment around the world and strengthening global economic partnerships.
Companies that wish to apply for funding or pre-qualify online under the INC program may visit Investment Cooperation Program (INC) here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today [Wednesday] marked the creation of a $20million program to support Canadian businesses that want to invest responsibly in developing countries. Effective today, Investment Cooperation (INC) replaces the Canadian International Development Agency’s Industrial Cooperation (CIDA-INC) program.
“This program will make it easier for innovative Canadian companies to contribute to economic growth and poverty reduction in developing countries,” said Minister Day. “This will create jobs both at home and abroad.”
INC funding will be used to help Canadian companies complete the following phases of the investment cycle:
• The viability phase: feasibility of an investment is investigated.
• The demonstration phase: technology is adapted and demonstrated.
• The sustainability phase: plans are developed to enhance a project’s economic, social and environmental sustainability.
• The implementation phase: activities are undertaken to enhance the sustainability of the project.
Program applicants and clients must demonstrate adherence to strict international corporate social responsibility (CSR) standards in order to receive funding. The program complements CSR measures announced by the Government of Canada in March. These included the creation of a CSR counsellor’s office and support for an external CSR centre of excellence that would provide information to companies, non-governmental organizations and others.
Applications will be processed more quickly than under the previous CIDA-INC program to ensure timely review and approvals. A service standard of 40 working days from submission of a completed application to approval has been introduced. Other changes include the expansion of the program to projects in most countries eligible for international development assistance, including China, Mexico, Malaysia and Thailand.
In 2007, the Government of Canada started implementing the Global Commerce Strategy. The Strategy’s objective is to support Canadian firms as they pursue opportunities in the global marketplace. The INC program will support the Strategy by increasing Canadian direct investment around the world and strengthening global economic partnerships.
Companies that wish to apply for funding or pre-qualify online under the INC program may visit Investment Cooperation Program (INC) here.
Tuesday, November 10, 2009
Minister Day Leads Trade Mission to Thailand
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, arrived in Thailand yesterday [Sunday] at the head of a trade mission made up of 10 Canadian energy companies.
Minister Day launched the trade mission before an audience of senior Canadian and Thai officials and business representatives in Bangkok. The Minister emphasized that this mission is the first Canadian ministerial visit in six years, and it will promote Canada as a supplier of high-quality goods and services to Thailand and throughout Southeast Asia.
“We must take advantage of the Government of Thailand’s new energy strategy by showcasing Canadian expertise,” said Minister Day. “This trade mission will help open doors for Canadian businesses that have an expertise in areas such as oil and gas exploration and production, natural gas vehicles, biomass energy, and wind, solar and nuclear energy.”
The Thai government’s new energy strategy, approved in January 2009, focuses on achieving greater energy independence and security through both conventional resources and alternative and renewable resources, such as compressed natural gas, bio-fuels and nuclear power.
In addition to having a growing number of Canadian businesses seeking a share of the energy market there, Thailand represents an important investment destination for Canadian companies. Canadian direct investment into Thailand has been increasing over recent years, reaching $1.3 billion at the end of 2008. As well, Canadian exports to Thailand also grew by 20 percent last year, particularly in the areas of machinery, wood pulp, cereals and vehicle parts.
“I am pleased with the solid and expanding nature of our relationship with Thailand, a valued partner in Asia,” said Minister Day. “My visit here not only shows Canada’s commitment to increasing trade and investment with this market, but it also highlights our countries’ interest in working together to create new opportunities in the years to come.”
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, arrived in Thailand yesterday [Sunday] at the head of a trade mission made up of 10 Canadian energy companies.
Minister Day launched the trade mission before an audience of senior Canadian and Thai officials and business representatives in Bangkok. The Minister emphasized that this mission is the first Canadian ministerial visit in six years, and it will promote Canada as a supplier of high-quality goods and services to Thailand and throughout Southeast Asia.
“We must take advantage of the Government of Thailand’s new energy strategy by showcasing Canadian expertise,” said Minister Day. “This trade mission will help open doors for Canadian businesses that have an expertise in areas such as oil and gas exploration and production, natural gas vehicles, biomass energy, and wind, solar and nuclear energy.”
The Thai government’s new energy strategy, approved in January 2009, focuses on achieving greater energy independence and security through both conventional resources and alternative and renewable resources, such as compressed natural gas, bio-fuels and nuclear power.
In addition to having a growing number of Canadian businesses seeking a share of the energy market there, Thailand represents an important investment destination for Canadian companies. Canadian direct investment into Thailand has been increasing over recent years, reaching $1.3 billion at the end of 2008. As well, Canadian exports to Thailand also grew by 20 percent last year, particularly in the areas of machinery, wood pulp, cereals and vehicle parts.
“I am pleased with the solid and expanding nature of our relationship with Thailand, a valued partner in Asia,” said Minister Day. “My visit here not only shows Canada’s commitment to increasing trade and investment with this market, but it also highlights our countries’ interest in working together to create new opportunities in the years to come.”
Wednesday, November 4, 2009
Minister Day Signs Agreement to Promote Trade Opportunities with Kuwait
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today signed an agreement on economic cooperation with Ahmad Rashed Al Haroun, the Minister of Commerce and Industry for Kuwait, in Ottawa.
“Kuwait offers many opportunities for Canadian companies in the oil and gas sector, engineering and architectural services, agri-food and education,” said Minister Day. “In signing this new agreement with Kuwait, the Government of Canada is opening doors for Canadian business by establishing a framework by which both sides can work to increase trade and investment.”
The agreement’s objectives are:
• To enhance economic relations in the fields of trade and investment;
• To strengthen cooperation with a view to liberalizing trade and investment in accordance with national laws and international obligations;
• To facilitate the increased involvement of the private sector in trade and investment cooperation; and
• To promote a favourable environment and complementary activities to encourage private-sector investment.
Minister Al-Haroun is leading a trade mission to Canada. Among the business delegation are members of the Kuwait Chamber of Commerce and Industry, the Kuwait Banking Association and the Investment Companies Association.
Kuwait has one of the world’s largest sovereign wealth funds, with assets estimated at $200 billion. Canada’s two-way merchandise trade with Kuwait in 2008 was valued at $195 million, almost a 70% increase over the previous year.
Kuwait is a member of the Gulf Cooperation Council (GCC), a group of six nations that is a priority market for Canada. The GCC comprises the most prosperous countries in the Middle East, and it has a rapidly growing economy worth $1.1 trillion. Building on their immense success in the oil industry, the GCC countries are diversifying their economies and transforming the region into a world hub for business, finance and tourism.
Two-way merchandise trade between Canada and GCC nations reached $5.6 billion in 2008, a 37% increase from 2007.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today signed an agreement on economic cooperation with Ahmad Rashed Al Haroun, the Minister of Commerce and Industry for Kuwait, in Ottawa.
“Kuwait offers many opportunities for Canadian companies in the oil and gas sector, engineering and architectural services, agri-food and education,” said Minister Day. “In signing this new agreement with Kuwait, the Government of Canada is opening doors for Canadian business by establishing a framework by which both sides can work to increase trade and investment.”
The agreement’s objectives are:
• To enhance economic relations in the fields of trade and investment;
• To strengthen cooperation with a view to liberalizing trade and investment in accordance with national laws and international obligations;
• To facilitate the increased involvement of the private sector in trade and investment cooperation; and
• To promote a favourable environment and complementary activities to encourage private-sector investment.
Minister Al-Haroun is leading a trade mission to Canada. Among the business delegation are members of the Kuwait Chamber of Commerce and Industry, the Kuwait Banking Association and the Investment Companies Association.
Kuwait has one of the world’s largest sovereign wealth funds, with assets estimated at $200 billion. Canada’s two-way merchandise trade with Kuwait in 2008 was valued at $195 million, almost a 70% increase over the previous year.
Kuwait is a member of the Gulf Cooperation Council (GCC), a group of six nations that is a priority market for Canada. The GCC comprises the most prosperous countries in the Middle East, and it has a rapidly growing economy worth $1.1 trillion. Building on their immense success in the oil industry, the GCC countries are diversifying their economies and transforming the region into a world hub for business, finance and tourism.
Two-way merchandise trade between Canada and GCC nations reached $5.6 billion in 2008, a 37% increase from 2007.
Thursday, October 22, 2009
Progress Slow in Tackling Trade Disputes Between U.S., Canada, Mexico
(Industry Week – Joel Barry, Agence France-Presse)
Variety of issues under examination at NAFTA meeting
Some progress has been made toward confronting Washington's "Buy American" provisions but a swift resolution to the trade dispute is unlikely, Canadian Trade Minister Stockwell Day said on October 19. "We've made some headway," Day said after talks with his U.S. and Mexican counterparts at a North American Free Trade Agreement meeting in Dallas, Texas. "It's not a sprint, it's a marathon," Day said.
The U.S. stimulus bill allocates $260 billion to states and cities provided that only American-made steel and equipment be bought with the funding. Ottawa has been hoping the Obama administration would make an exception for Canadian goods in return for a guarantee that city and provincial bids would be open to U.S. firms.
Day also said that the strengthening of the Canadian dollar – partly arising from his country's "boring but stable" banking system that [avoided] the U.S. banking crisis – posed a further challenge to exporters north of the border. He quoted analysts as saying it could reach parity with the U.S. dollar by the end of the year. Read more here.
Variety of issues under examination at NAFTA meeting
Some progress has been made toward confronting Washington's "Buy American" provisions but a swift resolution to the trade dispute is unlikely, Canadian Trade Minister Stockwell Day said on October 19. "We've made some headway," Day said after talks with his U.S. and Mexican counterparts at a North American Free Trade Agreement meeting in Dallas, Texas. "It's not a sprint, it's a marathon," Day said.
The U.S. stimulus bill allocates $260 billion to states and cities provided that only American-made steel and equipment be bought with the funding. Ottawa has been hoping the Obama administration would make an exception for Canadian goods in return for a guarantee that city and provincial bids would be open to U.S. firms.
Day also said that the strengthening of the Canadian dollar – partly arising from his country's "boring but stable" banking system that [avoided] the U.S. banking crisis – posed a further challenge to exporters north of the border. He quoted analysts as saying it could reach parity with the U.S. dollar by the end of the year. Read more here.
Tuesday, September 29, 2009
Statement from Minister Day on Softwood Lumber Tribunal Ruling
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today [Monday] issued the following statement on the decision of the London Court of International Arbitration Tribunal that Canada did not cure its breach of the Softwood Lumber Agreement:
“We are disappointed that the Tribunal did not accept Canada’s proposed solution to cure the breach. We continue to believe that our offer to pay $46.7 million was fair. However, there is no further route for appeal.
“The Government will comply with the Tribunal’s decision, as we remain committed to the success of the Softwood Lumber Agreement. This agreement has brought stability and has returned nearly $5 billion to the industry. This is a complex matter. We are reviewing the decision and consulting with the provinces to determine how best to move forward.”
The Tribunal’s decision states that the compensatory adjustments to Canada’s export charges must be imposed until the amount of $68.26 million identified by the Tribunal in its ruling on February 26, 2009, has been collected.
The breach is related to the use of the adjustment factor in the calculation of the volume of exports to the United States. Canada applied the adjustment factor to some provinces beginning July 2007, but the Tribunal said that we should have applied it beginning January 2007.
The 2006 Softwood Lumber Agreement ended a long-standing dispute that had resulted in years of punishing duties against Canadian exports. Through the Agreement, $4.5 billion US in duties collected by the U.S. was returned to Canadian companies, bringing a significant infusion of capital into the industry and benefiting workers and communities across Canada.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today [Monday] issued the following statement on the decision of the London Court of International Arbitration Tribunal that Canada did not cure its breach of the Softwood Lumber Agreement:
“We are disappointed that the Tribunal did not accept Canada’s proposed solution to cure the breach. We continue to believe that our offer to pay $46.7 million was fair. However, there is no further route for appeal.
“The Government will comply with the Tribunal’s decision, as we remain committed to the success of the Softwood Lumber Agreement. This agreement has brought stability and has returned nearly $5 billion to the industry. This is a complex matter. We are reviewing the decision and consulting with the provinces to determine how best to move forward.”
The Tribunal’s decision states that the compensatory adjustments to Canada’s export charges must be imposed until the amount of $68.26 million identified by the Tribunal in its ruling on February 26, 2009, has been collected.
The breach is related to the use of the adjustment factor in the calculation of the volume of exports to the United States. Canada applied the adjustment factor to some provinces beginning July 2007, but the Tribunal said that we should have applied it beginning January 2007.
The 2006 Softwood Lumber Agreement ended a long-standing dispute that had resulted in years of punishing duties against Canadian exports. Through the Agreement, $4.5 billion US in duties collected by the U.S. was returned to Canadian companies, bringing a significant infusion of capital into the industry and benefiting workers and communities across Canada.
Wednesday, September 23, 2009
Minister Day Announces Free Trade Talks with Ukraine
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced the launch of talks between Canada and Ukraine on a free trade agreement (FTA).
“Our government is once again taking action to open doors for Canadian business in new markets,” said Minister Day. “Canadian companies are steadily building a deep business presence here in areas like aerospace, communications technologies and in agriculture. Free trade negotiations could help to extend our deepening partnership. We know the support is there – on both sides.”
Minister Day made the announcement with Ukraine’s Minister of Economics, Bohdan Danylyshyn, right after the negotiations with the Ministry of Economics. Both Canada and Ukraine have agreed to meet in the coming months to discuss a range of trade and investment issues to facilitate economic relations and fight protectionism.
An FTA with Ukraine could further open markets for Canadian exports ranging from agricultural and seafood products to machinery and pharmaceuticals. It could also help to address non-tariff barriers.
Free trade agreements also help to strengthen the Canadian economy, to create new jobs and to lower prices for Canadian consumers.
Ukraine is the largest country in Europe, and is home to a highly educated population of 46 million, a diversified industrial base and substantial natural resources. Canadian merchandise exports to Ukraine in 2008 totalled $229.7 million, an 80% increase from the year before and a 400% jump from 2004. In 2008, agricultural and aerospace machinery topped the list of Canadian exports.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced the launch of talks between Canada and Ukraine on a free trade agreement (FTA).
“Our government is once again taking action to open doors for Canadian business in new markets,” said Minister Day. “Canadian companies are steadily building a deep business presence here in areas like aerospace, communications technologies and in agriculture. Free trade negotiations could help to extend our deepening partnership. We know the support is there – on both sides.”
Minister Day made the announcement with Ukraine’s Minister of Economics, Bohdan Danylyshyn, right after the negotiations with the Ministry of Economics. Both Canada and Ukraine have agreed to meet in the coming months to discuss a range of trade and investment issues to facilitate economic relations and fight protectionism.
An FTA with Ukraine could further open markets for Canadian exports ranging from agricultural and seafood products to machinery and pharmaceuticals. It could also help to address non-tariff barriers.
Free trade agreements also help to strengthen the Canadian economy, to create new jobs and to lower prices for Canadian consumers.
Ukraine is the largest country in Europe, and is home to a highly educated population of 46 million, a diversified industrial base and substantial natural resources. Canadian merchandise exports to Ukraine in 2008 totalled $229.7 million, an 80% increase from the year before and a 400% jump from 2004. In 2008, agricultural and aerospace machinery topped the list of Canadian exports.
Saturday, August 22, 2009
Canada Offers Trade Promises to U.S. in Exchange for Buy American Waiver
(Campbell Clark — Globe & Mail)
Ottawa, provinces offer ‘time-limited' proposal that would give American firms ‘guaranteed access' to contracts
The Canadian government has offered the U.S. guaranteed access to the provinces’ public purchases in exchange for a quick waiver of Buy American provisions that have frozen Canadian companies out of lucrative American stimulus-spending contracts.
In a letter to U.S. Trade Representative Ron Kirk, Canadian trade minister Stockwell Day said such a deal would address Canada’s immediate concerns about Buy American, and could serve as a prelude to a permanent deal that would open cross-border access to provincial, state, and city contracts.
The letter, dated Thursday and obtained by The Globe and Mail, refers to a proposal that Canada submitted at the same time, after lengthy talks with the provinces.
“Through this proposal, Canada is offering time-limited guarantees to an ambitious package of sub-federal procurement in an exchange for a waiver from the “Buy American” requirements in the Recovery Act and any similar requirements in new federal U.S. legislation.
The U.S. Recovery Act, the $860-billion stimulus package pass early this year, sends about $260-billion to state and local governments in the U.S. for spending projects, but requires that all steel and manufactured goods be U.S. made. Similar provisions are included in several bills winding through the U.S. Congress.
The U.S. has down played the impact, even Canadian companies say they have been frozen out of lucrative contracts. But earlier this month, U.S. President Barack Obama brushed off the concerns.
“I do think it’s important to keep this in perspective. This in no way has endangered the billions of dollars of trade taking place between our two countries,” Mr. Obama said as he, Prime Minister Stephen Harper and Mexican President Felipe Calderon wrapped up their so-called Three Amigos summit.
“I want to assure you your Prime Minister raises this with me every time we see each other,” he had said. “[But] I think it’s also important to keep it in perspective, that in fact we have not seen some sweeping steps toward protectionism,” he said.
Spending by states, provinces, and cities is not covered by the NAFTA – Canadian provinces wanted it left out when the trade pact was signed – but Canadian provinces have agreed to negotiate some guarantees in exchange for a Canadian exception to buy American.
“This offer is ambitious in its coverage of all Canadian provinces, territories and major municipalities as well as coverage comparable to that under NAFTA for all goods and services, including construction services,” Mr. Day wrote in the letter. Read more here.
Ottawa, provinces offer ‘time-limited' proposal that would give American firms ‘guaranteed access' to contracts
The Canadian government has offered the U.S. guaranteed access to the provinces’ public purchases in exchange for a quick waiver of Buy American provisions that have frozen Canadian companies out of lucrative American stimulus-spending contracts.
In a letter to U.S. Trade Representative Ron Kirk, Canadian trade minister Stockwell Day said such a deal would address Canada’s immediate concerns about Buy American, and could serve as a prelude to a permanent deal that would open cross-border access to provincial, state, and city contracts.
The letter, dated Thursday and obtained by The Globe and Mail, refers to a proposal that Canada submitted at the same time, after lengthy talks with the provinces.
“Through this proposal, Canada is offering time-limited guarantees to an ambitious package of sub-federal procurement in an exchange for a waiver from the “Buy American” requirements in the Recovery Act and any similar requirements in new federal U.S. legislation.
The U.S. Recovery Act, the $860-billion stimulus package pass early this year, sends about $260-billion to state and local governments in the U.S. for spending projects, but requires that all steel and manufactured goods be U.S. made. Similar provisions are included in several bills winding through the U.S. Congress.
The U.S. has down played the impact, even Canadian companies say they have been frozen out of lucrative contracts. But earlier this month, U.S. President Barack Obama brushed off the concerns.
“I do think it’s important to keep this in perspective. This in no way has endangered the billions of dollars of trade taking place between our two countries,” Mr. Obama said as he, Prime Minister Stephen Harper and Mexican President Felipe Calderon wrapped up their so-called Three Amigos summit.
“I want to assure you your Prime Minister raises this with me every time we see each other,” he had said. “[But] I think it’s also important to keep it in perspective, that in fact we have not seen some sweeping steps toward protectionism,” he said.
Spending by states, provinces, and cities is not covered by the NAFTA – Canadian provinces wanted it left out when the trade pact was signed – but Canadian provinces have agreed to negotiate some guarantees in exchange for a Canadian exception to buy American.
“This offer is ambitious in its coverage of all Canadian provinces, territories and major municipalities as well as coverage comparable to that under NAFTA for all goods and services, including construction services,” Mr. Day wrote in the letter. Read more here.
Tuesday, August 4, 2009
Minister Day Announces Canada-Peru Free Trade Agreement
(DFAIT)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that the Canada-Peru bilateral free trade agreement (FTA) came into effect on August 1, 2009.
“Ensuring free and open trade is vital to international efforts to halt the global recession,” said Minister Day. “Our economic prosperity depends on creating new opportunities through open markets, and this free trade agreement with Peru will provide such opportunities with one of the most dynamic economies in Latin America.”
Canadian producers will benefit from the elimination of tariffs on exports into Peru. Many agricultural exports such as wheat, barley, lentils and peas will receive immediate duty-free status. The FTA provides enhanced market access in service sectors that are of interest to Canada, including mining, energy and professional services. Canada’s banking, insurance and securities sector will also benefit from greater access to the Peruvian marketplace.
Parallel agreements on labour cooperation and on the environment also came into effect on August 1. The labour agreement commits Canada and Peru to respecting and enforcing international labour standards such as the elimination of child and forced labour, freedom of association and the right to bargain collectively. The environment agreement commits both countries to substantially increase environmental protection, to enforce their respective environmental laws, and to refrain from diminishing these laws or reducing their enforcement to encourage trade and investment.
This is the second trade agreement Canada has implemented this year: in June, Canada’s FTA with the European Free Trade Association (EFTA) came into force. Canada’s Economic Action Plan focuses on helping Canadian businesses and investors succeed in world markets. The ambitious trade agenda includes negotiations to improve market access to diverse countries in Europe, Asia, the Americas and the Middle East.
In 2008, two-way merchandise trade between Canada and Peru reached $2.8 billion. Peru is also an important investment partner for Canada, holding Canadian investment stock worth an estimated $2.35 billion at the end of 2008.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that the Canada-Peru bilateral free trade agreement (FTA) came into effect on August 1, 2009.
“Ensuring free and open trade is vital to international efforts to halt the global recession,” said Minister Day. “Our economic prosperity depends on creating new opportunities through open markets, and this free trade agreement with Peru will provide such opportunities with one of the most dynamic economies in Latin America.”
Canadian producers will benefit from the elimination of tariffs on exports into Peru. Many agricultural exports such as wheat, barley, lentils and peas will receive immediate duty-free status. The FTA provides enhanced market access in service sectors that are of interest to Canada, including mining, energy and professional services. Canada’s banking, insurance and securities sector will also benefit from greater access to the Peruvian marketplace.
Parallel agreements on labour cooperation and on the environment also came into effect on August 1. The labour agreement commits Canada and Peru to respecting and enforcing international labour standards such as the elimination of child and forced labour, freedom of association and the right to bargain collectively. The environment agreement commits both countries to substantially increase environmental protection, to enforce their respective environmental laws, and to refrain from diminishing these laws or reducing their enforcement to encourage trade and investment.
This is the second trade agreement Canada has implemented this year: in June, Canada’s FTA with the European Free Trade Association (EFTA) came into force. Canada’s Economic Action Plan focuses on helping Canadian businesses and investors succeed in world markets. The ambitious trade agenda includes negotiations to improve market access to diverse countries in Europe, Asia, the Americas and the Middle East.
In 2008, two-way merchandise trade between Canada and Peru reached $2.8 billion. Peru is also an important investment partner for Canada, holding Canadian investment stock worth an estimated $2.35 billion at the end of 2008.
Monday, July 27, 2009
Canada to Launch Protest Against Seal Product Ban
(CTV News)
Canada will launch a formal protest with the World Trade Organization over a ban on the import of seal products approved by the European Union, International Trade Minister Stockwell Day announced Monday.
The ban, which was approved Monday at a meeting of EU foreign ministers in Brussels, would be implemented in all 27 EU member countries over the next nine months, in time for Canada's next seal hunt. Read more here.
Canada will launch a formal protest with the World Trade Organization over a ban on the import of seal products approved by the European Union, International Trade Minister Stockwell Day announced Monday.
The ban, which was approved Monday at a meeting of EU foreign ministers in Brussels, would be implemented in all 27 EU member countries over the next nine months, in time for Canada's next seal hunt. Read more here.
Thursday, July 9, 2009
Canada Requests WTO Panel on South Korea’s Continuing Ban on Canadian Beef
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, and the Honourable Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board, today [Thursday] announced that the Government of Canada is requesting the establishment of a World Trade Organization (WTO) dispute settlement panel on the issue of South Korea’s continuing ban on the importation of Canadian beef.
“Recent consultations with South Korea on its Canadian beef ban regrettably did not produce the desired results,” said Minister Day. “Our request today for a WTO panel demonstrates our ongoing commitment to resolving this issue and defending the interests of Canadian producers.”
“Canadian ranchers produce beef that meets the highest safety and quality standards in the world,” said Minister Ritz. “This government has made it clear to South Korea that we will defend Canadian ranchers, and I delivered that point in person during my trip to Seoul in March 2009. The international scientific community recognizes that Canadian beef is safe, and we are confident a WTO dispute panel would rule in our favour.”
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, and the Honourable Gerry Ritz, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board, today [Thursday] announced that the Government of Canada is requesting the establishment of a World Trade Organization (WTO) dispute settlement panel on the issue of South Korea’s continuing ban on the importation of Canadian beef.
“Recent consultations with South Korea on its Canadian beef ban regrettably did not produce the desired results,” said Minister Day. “Our request today for a WTO panel demonstrates our ongoing commitment to resolving this issue and defending the interests of Canadian producers.”
“Canadian ranchers produce beef that meets the highest safety and quality standards in the world,” said Minister Ritz. “This government has made it clear to South Korea that we will defend Canadian ranchers, and I delivered that point in person during my trip to Seoul in March 2009. The international scientific community recognizes that Canadian beef is safe, and we are confident a WTO dispute panel would rule in our favour.”
Friday, June 26, 2009
Minister Day Promotes Canadian Trade in France
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today concluded a two-day visit to France where, during important multilateral meetings, he strongly reiterated Canada’s calls to keep markets open and resist the temptation of protectionism.
Minister Day and Ted Menzies, Parliamentary Secretary to the Minister of Finance, met with Organisation for Economic Co-operation and Development (OECD) and World Trade Organization (WTO) partners to address the current state of the world economy and the need for continued trade and investment liberalization.
“In order for us to succeed in restoring prosperity to the global economy, we need to work with OECD and WTO members to fight the impulse to hide behind trade barriers. Canada is leading by example by pursuing free trade agreements with markets all over the globe,” said Minister Day. “We are strongly opposed to protectionism and will continue to defend free and open trade on the world stage.
“The Doha Round of WTO negotiations offers the best way forward to ensure fair, rules-based international trade. We need to aggressively pursue these talks to ensure our Canadian companies gain access to as many markets as possible, especially during this difficult economic period.”
Following the OECD meetings and informal meetings of WTO ministers, Minister Day delivered a speech to senior business officials from the Canada-France Chamber of Commerce where he highlighted Canada’s aggressive free trade agenda, positioned Canada as the best place in the world to do business and called for the need to resist protectionism.
Minister Day also had a very productive meeting with his French counterpart, Anne-Marie Idrac, Secretary of State for Foreign Trade, where he reinforced the need for stronger commercial relations with France and emphasized the importance of concluding negotiations on a comprehensive economic and trade agreement with the European Union as soon as possible.
“An agreement with the European Union, now more than ever, will help provide Canadian companies with enhanced access to the world’s largest market,” said Minister Day. “We will continue to work with our European partners, such as France, to ensure this becomes a reality.”
France is Canada’s eighth-largest merchandise trading partner worldwide and its third-largest in Europe, after the United Kingdom and Germany.
For the complete text of the OECD meeting’s ministerial conclusions is available here (PDF) and more details about Minister Day’s visit can be found here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today concluded a two-day visit to France where, during important multilateral meetings, he strongly reiterated Canada’s calls to keep markets open and resist the temptation of protectionism.
Minister Day and Ted Menzies, Parliamentary Secretary to the Minister of Finance, met with Organisation for Economic Co-operation and Development (OECD) and World Trade Organization (WTO) partners to address the current state of the world economy and the need for continued trade and investment liberalization.
“In order for us to succeed in restoring prosperity to the global economy, we need to work with OECD and WTO members to fight the impulse to hide behind trade barriers. Canada is leading by example by pursuing free trade agreements with markets all over the globe,” said Minister Day. “We are strongly opposed to protectionism and will continue to defend free and open trade on the world stage.
“The Doha Round of WTO negotiations offers the best way forward to ensure fair, rules-based international trade. We need to aggressively pursue these talks to ensure our Canadian companies gain access to as many markets as possible, especially during this difficult economic period.”
Following the OECD meetings and informal meetings of WTO ministers, Minister Day delivered a speech to senior business officials from the Canada-France Chamber of Commerce where he highlighted Canada’s aggressive free trade agenda, positioned Canada as the best place in the world to do business and called for the need to resist protectionism.
Minister Day also had a very productive meeting with his French counterpart, Anne-Marie Idrac, Secretary of State for Foreign Trade, where he reinforced the need for stronger commercial relations with France and emphasized the importance of concluding negotiations on a comprehensive economic and trade agreement with the European Union as soon as possible.
“An agreement with the European Union, now more than ever, will help provide Canadian companies with enhanced access to the world’s largest market,” said Minister Day. “We will continue to work with our European partners, such as France, to ensure this becomes a reality.”
France is Canada’s eighth-largest merchandise trading partner worldwide and its third-largest in Europe, after the United Kingdom and Germany.
For the complete text of the OECD meeting’s ministerial conclusions is available here (PDF) and more details about Minister Day’s visit can be found here.
Monday, June 22, 2009
Minister Day Launches Infrastructure Trade Mission to Russia
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, arrived in Russia today with a trade mission composed of 33 Canadian companies representing various facets of Canada’s infrastructure sector.
Minister Day’s trade mission kicks off with a tour of Novie Veshki, a Canadian-built housing complex and one of the largest subdivisions in Moscow. This development is the first in Russia to mirror Canadian building codes, making it a good example of how Canadian expertise can be applied – with great success – in this country.
“The Novie Veshki project is moving forward with the direct involvement of Canadian engineers and architects. It represents the first housing project in Russia to adopt building codes that mirror Canada’s strict regulations,” explained Minister Day. “I was impressed to note that this new housing complex looks just like the ones we see in Canada. In fact, looking around, it feels like I haven’t left Canada!”
The trade mission will stop in Moscow and Sochi, where Minister Day will also meet with representatives of Canadian companies already doing business in Russia, including infrastructure development for the Sochi 2014 Olympic and Paralympic Winter Games.
“Canadian companies have proven to be world-class competitors. They have a lot to offer, particularly expertise in construction and infrastructure development,” said Minister Day. “I am here in Russia this week to promote what Canada has to offer and to help Canadian businesses build bridges to the Russian marketplace.”
The Russian Federation is an emerging market and remains a key destination for Canadian companies specializing in technology, agriculture and infrastructure. Canada’s exports to Russia grew by 30% in 2008 and have increased almost sevenfold since 2000.
More details about Minister Day’s trade visit to Russia can be found here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, arrived in Russia today with a trade mission composed of 33 Canadian companies representing various facets of Canada’s infrastructure sector.
Minister Day’s trade mission kicks off with a tour of Novie Veshki, a Canadian-built housing complex and one of the largest subdivisions in Moscow. This development is the first in Russia to mirror Canadian building codes, making it a good example of how Canadian expertise can be applied – with great success – in this country.
“The Novie Veshki project is moving forward with the direct involvement of Canadian engineers and architects. It represents the first housing project in Russia to adopt building codes that mirror Canada’s strict regulations,” explained Minister Day. “I was impressed to note that this new housing complex looks just like the ones we see in Canada. In fact, looking around, it feels like I haven’t left Canada!”
The trade mission will stop in Moscow and Sochi, where Minister Day will also meet with representatives of Canadian companies already doing business in Russia, including infrastructure development for the Sochi 2014 Olympic and Paralympic Winter Games.
“Canadian companies have proven to be world-class competitors. They have a lot to offer, particularly expertise in construction and infrastructure development,” said Minister Day. “I am here in Russia this week to promote what Canada has to offer and to help Canadian businesses build bridges to the Russian marketplace.”
The Russian Federation is an emerging market and remains a key destination for Canadian companies specializing in technology, agriculture and infrastructure. Canada’s exports to Russia grew by 30% in 2008 and have increased almost sevenfold since 2000.
More details about Minister Day’s trade visit to Russia can be found here.
Monday, June 15, 2009
Minister Day Launches Advertisements to Promote Canada’s Asia-Pacific Gateway
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today launched an international advertising campaign promoting Canada’s Asia-Pacific Gateway as the fastest, most reliable way to transport goods between Asia and North America.
“Our economic prosperity depends on moving goods quickly and efficiently around the world,” said Minister Day. “We are working hard with our partners throughout Asia and North America to promote the benefits of using Canada’s transportation system to move products from the factory floor to store shelves.
“The Government of Canada has taken a number of important steps to enhance the country’s transportation network. This international ad campaign will help make businesses more aware of the advantages of moving their goods through our seaports and airports, and on our highways and railways.”
Beginning June 15, advertisements will appear featuring the slogan “With Canada’s Pacific Gateway, everything gets there sooner than you think.” The ads will be placed in marine and air shipping trade publications in the United States, Japan, Korea and China, including Journal of Commerce, Logistics Management, Air Cargo World, Payload Asia, China’s Foreign Trade and Maritime Press. The ads will appear in publications and as online web banners at intervals over the next 10 months.
Read the complete government press release here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today launched an international advertising campaign promoting Canada’s Asia-Pacific Gateway as the fastest, most reliable way to transport goods between Asia and North America.
“Our economic prosperity depends on moving goods quickly and efficiently around the world,” said Minister Day. “We are working hard with our partners throughout Asia and North America to promote the benefits of using Canada’s transportation system to move products from the factory floor to store shelves.
“The Government of Canada has taken a number of important steps to enhance the country’s transportation network. This international ad campaign will help make businesses more aware of the advantages of moving their goods through our seaports and airports, and on our highways and railways.”
Beginning June 15, advertisements will appear featuring the slogan “With Canada’s Pacific Gateway, everything gets there sooner than you think.” The ads will be placed in marine and air shipping trade publications in the United States, Japan, Korea and China, including Journal of Commerce, Logistics Management, Air Cargo World, Payload Asia, China’s Foreign Trade and Maritime Press. The ads will appear in publications and as online web banners at intervals over the next 10 months.
Read the complete government press release here.
Tuesday, June 9, 2009
Canada to Launch Intense Lobbying Effort in Congress over Buy America
(The Canadian Press – Julian Beltrame and Ross Marowits)
Canada is launching a major arm-twisting effort in Washington on Tuesday that targets American congressmen and senators vulnerable to tit-for-tat retaliation against U.S. protectionism. Trade Minister Stockwell Day said Canadian trade officials from across the United States are descending on Congress and will be meeting with lawmakers armed with numbers about how many jobs in their districts could be lost if Canada retaliates against Buy America provisions.
“This is the ongoing full-court press to get the attention of Congress that the Buy America provisions as currently constituted are going to wind up hurting jobs, hurting business on both sides of the border,” he said in an interview. “We’ve produced a map that goes state by state, shows the vulnerabilities in each state where there are businesses that expressly do business with Canada that are at risk to being hurt if municipalities on our side of the border retaliate.”
Canada’s most senior diplomats in Washington and 13 consuls general are expected to meet with over 75 members of Congress and staff on the issue.
The action follows a narrow vote among Canadian municipalities over the weekend advocating retaliation in kind against Buy America, which forces U.S. municipalities and states to use American steel and manufacturing exclusively for projects paid by taxpayers. The Canadian municipalities say it would be fair trade to discriminate against any country that discriminates against Canadian suppliers in local procurement contracts. Read more here.
Canada is launching a major arm-twisting effort in Washington on Tuesday that targets American congressmen and senators vulnerable to tit-for-tat retaliation against U.S. protectionism. Trade Minister Stockwell Day said Canadian trade officials from across the United States are descending on Congress and will be meeting with lawmakers armed with numbers about how many jobs in their districts could be lost if Canada retaliates against Buy America provisions.
“This is the ongoing full-court press to get the attention of Congress that the Buy America provisions as currently constituted are going to wind up hurting jobs, hurting business on both sides of the border,” he said in an interview. “We’ve produced a map that goes state by state, shows the vulnerabilities in each state where there are businesses that expressly do business with Canada that are at risk to being hurt if municipalities on our side of the border retaliate.”
Canada’s most senior diplomats in Washington and 13 consuls general are expected to meet with over 75 members of Congress and staff on the issue.
The action follows a narrow vote among Canadian municipalities over the weekend advocating retaliation in kind against Buy America, which forces U.S. municipalities and states to use American steel and manufacturing exclusively for projects paid by taxpayers. The Canadian municipalities say it would be fair trade to discriminate against any country that discriminates against Canadian suppliers in local procurement contracts. Read more here.
Wednesday, May 20, 2009
Canada’s Minister of International Trade Recommends Canadian Companies to Leverage the Hong Kong Platform to Explore Opportunities in China
(Hong Kong Trade Development Council)
Stockwell Day, Canada’s Minister of International Trade, sees Hong Kong as a springboard to the great business opportunities of China. Leading a trade mission to China last month, the Minister expects trade relations between the two countries to more than triple in the next decade.
During his stay in Hong Kong, he was interviewed by the HKTDC Editor. A webcast interview and an article have subsequently been produced.
Related Links: Webcast interview and Hong Kong Trader article “City of Hope.”
Stockwell Day, Canada’s Minister of International Trade, sees Hong Kong as a springboard to the great business opportunities of China. Leading a trade mission to China last month, the Minister expects trade relations between the two countries to more than triple in the next decade.
During his stay in Hong Kong, he was interviewed by the HKTDC Editor. A webcast interview and an article have subsequently been produced.
Related Links: Webcast interview and Hong Kong Trader article “City of Hope.”
Friday, May 8, 2009
Minister Day Wraps Up European Trade Promotion Visit
(Foreign Affairs and International Trade Canada)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today concluded a five-day visit to Lithuania, Latvia, the Czech Republic and Romania, where he was opening doors to new opportunities for Canadian companies.
During his visit, Minister Day signed foreign investment promotion and protection agreements (FIPAs) with Latvia and the Czech Republic. Tomorrow, he will sign a FIPA with Romania. These agreements will protect and promote Canadian investments so that businesses can invest with confidence.
“Renewing these FIPAs represents a concrete step in moving Canada’s trade agenda forward,” said Minister Day. “These agreements also help deliver on the government’s commitment to create the right conditions for Canadian businesses to compete internationally.”
Minister Day met with key ministers and senior officials in each country to discuss areas of mutual interest, such as energy security in the region. He also promoted the benefits of a closer Canada-EU economic relationship.
The launch of negotiations with the EU toward a comprehensive economic partnership agreement was officially announced by Prime Minister Stephen Harper, Czech Prime Minister Mirek Topolánek and European Commission President José Manuel Barroso at the Canada-EU Summit on May 6. The agreement could provide a $12-billion boost to the Canadian economy and a 20-percent increase in bilateral trade between Canada and the EU.
While in Lithuania, Latvia and Romania, Minister Day promoted Canada’s expertise in the energy sector and raised the profile of Canadian companies, particularly those in the nuclear industry, as world-class suppliers of quality goods and services. Atomic Energy of Canada Ltd. and the Canadian nuclear industry have the technological expertise to participate in the construction of a Lithuanian-led nuclear power project for the region, and for phases three and four of Romania’s Cernavoda nuclear power plant. These multibillion-dollar projects could create new jobs in Canada and Europe.
In Romania, the minister promoted Canada’s new measures to help Canadian mining and oil and gas companies meet and exceed their social and environmental responsibilities when operating abroad.
More details about Minister Day’s trip to Europe can be found here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today concluded a five-day visit to Lithuania, Latvia, the Czech Republic and Romania, where he was opening doors to new opportunities for Canadian companies.
During his visit, Minister Day signed foreign investment promotion and protection agreements (FIPAs) with Latvia and the Czech Republic. Tomorrow, he will sign a FIPA with Romania. These agreements will protect and promote Canadian investments so that businesses can invest with confidence.
“Renewing these FIPAs represents a concrete step in moving Canada’s trade agenda forward,” said Minister Day. “These agreements also help deliver on the government’s commitment to create the right conditions for Canadian businesses to compete internationally.”
Minister Day met with key ministers and senior officials in each country to discuss areas of mutual interest, such as energy security in the region. He also promoted the benefits of a closer Canada-EU economic relationship.
The launch of negotiations with the EU toward a comprehensive economic partnership agreement was officially announced by Prime Minister Stephen Harper, Czech Prime Minister Mirek Topolánek and European Commission President José Manuel Barroso at the Canada-EU Summit on May 6. The agreement could provide a $12-billion boost to the Canadian economy and a 20-percent increase in bilateral trade between Canada and the EU.
While in Lithuania, Latvia and Romania, Minister Day promoted Canada’s expertise in the energy sector and raised the profile of Canadian companies, particularly those in the nuclear industry, as world-class suppliers of quality goods and services. Atomic Energy of Canada Ltd. and the Canadian nuclear industry have the technological expertise to participate in the construction of a Lithuanian-led nuclear power project for the region, and for phases three and four of Romania’s Cernavoda nuclear power plant. These multibillion-dollar projects could create new jobs in Canada and Europe.
In Romania, the minister promoted Canada’s new measures to help Canadian mining and oil and gas companies meet and exceed their social and environmental responsibilities when operating abroad.
More details about Minister Day’s trip to Europe can be found here.
Tuesday, May 5, 2009
Minister Day Signs Agreement to Help Canadian Businesses Take Advantage of Opportunities in Latvia
(Minister of International Trade • Video: World Focus Online)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that Canada and Latvia have signed an updated foreign investment promotion and protection agreement (FIPA).
“Our government is opening doors for Canadian business. Latvia is a promising market for Canadian investment, especially in the energy, construction, transportation, and science and technology sectors. This agreement will help Canadian companies take advantage of new opportunities in Latvia,” said Minister Day.
FIPAs are agreements that clearly lay out rules for signatory countries to follow. They offer a level of protection and predictability that helps companies invest with confidence. The updated agreement will encourage two-way investment by providing the clarity and certainty needed by investors in foreign markets.
As part of its Global Commerce Strategy, the Government of Canada is promoting Canada as an investment destination, especially to its European Union partners. “This agreement builds upon Canada’s commitment to strengthen ties with our European partners,” said Minister Day. “The updated Canada-Latvia investment agreement complements the action our government is taking to build a closer partnership with the EU.”
The Canada-Latvia FIPA, which entered into force in 1995, has now been updated to comply with EU law and to include a number of improvements requested by Canada. These include a new clause for environmental, health and other safety standards, and greater transparency during investor-state arbitration.
Canada currently has 23 FIPAs in force, of which six are with EU countries. Two-way merchandise trade between Canada and Latvia totalled $81.4 million in 2008. Sectors identified for business development in Latvia include capital projects, agriculture and agri-food, and environmental industries.
For further information about Minister Day’s visit to Europe go here.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced that Canada and Latvia have signed an updated foreign investment promotion and protection agreement (FIPA).
“Our government is opening doors for Canadian business. Latvia is a promising market for Canadian investment, especially in the energy, construction, transportation, and science and technology sectors. This agreement will help Canadian companies take advantage of new opportunities in Latvia,” said Minister Day.
FIPAs are agreements that clearly lay out rules for signatory countries to follow. They offer a level of protection and predictability that helps companies invest with confidence. The updated agreement will encourage two-way investment by providing the clarity and certainty needed by investors in foreign markets.
As part of its Global Commerce Strategy, the Government of Canada is promoting Canada as an investment destination, especially to its European Union partners. “This agreement builds upon Canada’s commitment to strengthen ties with our European partners,” said Minister Day. “The updated Canada-Latvia investment agreement complements the action our government is taking to build a closer partnership with the EU.”
The Canada-Latvia FIPA, which entered into force in 1995, has now been updated to comply with EU law and to include a number of improvements requested by Canada. These include a new clause for environmental, health and other safety standards, and greater transparency during investor-state arbitration.
Canada currently has 23 FIPAs in force, of which six are with EU countries. Two-way merchandise trade between Canada and Latvia totalled $81.4 million in 2008. Sectors identified for business development in Latvia include capital projects, agriculture and agri-food, and environmental industries.
For further information about Minister Day’s visit to Europe go here.
Thursday, April 30, 2009
Trade: Will U.S. Notice If We Look the Other Way?
(Bogdan Kipling — Chronicle Herald)
Half a year ago, Prime Minister Stephen Harper saw a “historic” start in relations between Canada and the European Union. His Quebec City setting was perfect and the occasion was not overstated one bit. Mr. Harper was flanked by President Nicolas Sarkozy of France and Jose Manuel Barosso, president of the European Union, as he announced that Canada and the 27 member countries of the EU had a “comprehensive” economic partnership in the works.
Mr. Harper’s statement got little attention in Canada and none in the United States. Three days earlier, Canadians gave the Tories a fresh mandate and Canada’s commentariat was preoccupied with the “what does it mean?” question. Here in Washington, the silence was pretty overwhelming.
Canada fared better, by a whisker, on Tuesday. The Washington Times had a brief story in its “Briefly” roundup of news from the Americas. The Canada item carried the headline “Trade talks begin with EU” and Reuters mentions it in a story about International Trade Minister Stockwell Day’s visit in Washington.
Am I surprised? Heck, no. Canada gets little mention in the American media at the best of times, and right now American papers and TV are full of President Barack Obama’s “First Hundred Days” – in special sections yet. Read more here.
Half a year ago, Prime Minister Stephen Harper saw a “historic” start in relations between Canada and the European Union. His Quebec City setting was perfect and the occasion was not overstated one bit. Mr. Harper was flanked by President Nicolas Sarkozy of France and Jose Manuel Barosso, president of the European Union, as he announced that Canada and the 27 member countries of the EU had a “comprehensive” economic partnership in the works.
Mr. Harper’s statement got little attention in Canada and none in the United States. Three days earlier, Canadians gave the Tories a fresh mandate and Canada’s commentariat was preoccupied with the “what does it mean?” question. Here in Washington, the silence was pretty overwhelming.
Canada fared better, by a whisker, on Tuesday. The Washington Times had a brief story in its “Briefly” roundup of news from the Americas. The Canada item carried the headline “Trade talks begin with EU” and Reuters mentions it in a story about International Trade Minister Stockwell Day’s visit in Washington.
Am I surprised? Heck, no. Canada gets little mention in the American media at the best of times, and right now American papers and TV are full of President Barack Obama’s “First Hundred Days” – in special sections yet. Read more here.
New Free Trade Agreement Opens Doors for Canadian Business in Iceland, Liechtenstein, Norway and Switzerland
(Minister of International Trade)
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, announced today that the free trade agreement (FTA) with the states of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway and Switzerland – has received Royal Assent. The agreement is on track to come into effect on July 1, 2009.
“Trade is extremely important to Canada’s continued prosperity,” said Minister Day.
“Implementing this agreement – the first free trade agreement Canada has ever completed with European countries – will open more doors for Canadian producers and exporters by increasing their access to the wealthy and sophisticated EFTA markets.”
Canada’s producers and exporters will benefit immediately from the elimination of duties on all Canadian non-agricultural merchandise exports upon entry into force of the FTA. Tariffs will also be eliminated or reduced on selected Canadian agricultural exports such as durum wheat, frozen french fries, beer and crude canola oil. As well, Canadian companies will be able to access innovative technologies and other inputs from EFTA markets at lower costs, including through the importation of machinery and scientific and precision instruments.
“This agreement will provide not only a strategic opportunity for Canadian companies to tap directly into EFTA value chains, but also indirect access to the European Union,” said Minister Day. “The Government of Canada is committed to opening up new markets for Canadian business and expanding existing ones. During this period of extraordinary global economic challenges and uncertainty, it is more important than ever that we pursue international trade opportunities.”
Together, the EFTA countries were Canada’s seventh-largest merchandise export destination in 2008. Canada exported $4.2 billion in merchandise to the EFTA countries in 2008, with two-way merchandise trade valued at $13.2 billion.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, announced today that the free trade agreement (FTA) with the states of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway and Switzerland – has received Royal Assent. The agreement is on track to come into effect on July 1, 2009.
“Trade is extremely important to Canada’s continued prosperity,” said Minister Day.
“Implementing this agreement – the first free trade agreement Canada has ever completed with European countries – will open more doors for Canadian producers and exporters by increasing their access to the wealthy and sophisticated EFTA markets.”
Canada’s producers and exporters will benefit immediately from the elimination of duties on all Canadian non-agricultural merchandise exports upon entry into force of the FTA. Tariffs will also be eliminated or reduced on selected Canadian agricultural exports such as durum wheat, frozen french fries, beer and crude canola oil. As well, Canadian companies will be able to access innovative technologies and other inputs from EFTA markets at lower costs, including through the importation of machinery and scientific and precision instruments.
“This agreement will provide not only a strategic opportunity for Canadian companies to tap directly into EFTA value chains, but also indirect access to the European Union,” said Minister Day. “The Government of Canada is committed to opening up new markets for Canadian business and expanding existing ones. During this period of extraordinary global economic challenges and uncertainty, it is more important than ever that we pursue international trade opportunities.”
Together, the EFTA countries were Canada’s seventh-largest merchandise export destination in 2008. Canada exported $4.2 billion in merchandise to the EFTA countries in 2008, with two-way merchandise trade valued at $13.2 billion.
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