(Toronto Sun – Laura Payton)
The federal government will present a law this fall to formally endorse a trade deal with Panama, International Trade Minister Peter Van Loan said Monday. Van Loan and Panamanian Commerce and Industry Minister Roberto Henríquez signed the agreement in May, but Canada still has to pass a law to bring it into force.
The government says the agreement will cut tariffs against raw Canadian goods like agricultural products, wood, pulp and paper products, seafood, and iron and steel, as well as finished exports like machinery, cars, aerospace and pharmaceuticals.
Panama had the highest GDP growth in the Americas in 2008. The country is expanding its famous canal, which should be done in 2014. The government hopes the expansion will mean more work in engineering and construction, and more material exports.
“Panama plays a pivotal role in the movement of goods around the world. This vital gateway is currently under expansion, a great opportunity to generate jobs and investment for Canadian companies,” Van Loan said.
Showing posts with label Panama. Show all posts
Showing posts with label Panama. Show all posts
Wednesday, September 1, 2010
Friday, May 14, 2010
Minister Van Loan Signs Canada-Panama Free Trade Agreement
(Minister of International Trade)
The Honourable Peter Van Loan, Minister of International Trade, and Panama’s Minister of Commerce and Industry, Roberto Henríquez, today [May 14] signed the Canada-Panama Free Trade Agreement and parallel agreements on labour cooperation and the environment. The Right Honourable Stephen Harper, Prime Minister of Canada, witnessed the signing ceremony.
“Panama is a dynamic, innovative economy,” said Minister Van Loan. “Our government’s aggressive free trade agenda is opening new markets within the Americas, creating opportunities for Canadian businesses and workers and, as we recover from the global economic downturn, securing future prosperity for Canadians and our trading partners.”
“Today’s historic signing marks a new era in relations with a key partner and much-valued friend in the Americas,” said the Honourable Peter Kent, Minister of State of Foreign Affairs (Americas). “Our government is working with like-minded countries such as Panama to secure a brighter, more prosperous future for our hemisphere.”
The Canada-Panama Free Trade Agreement will lower tariffs on goods and remove other trade barriers to benefit a broad range of sectors, creating new opportunities for the Canadian construction, manufacturing and agriculture industries.
The Free Trade Agreement will also expand market access for Canadian service providers in areas such as information and communication technology, and engineering, environmental, energy and financial services. Investment provisions in the Free Trade Agreement provide greater protection for Canadian investments in Panama and will ensure greater transparency and security for Canadian investors. In addition, the Agreement will secure access to the government procurement market, including for the $5.4-billion expansion of the Panama Canal and other infrastructure projects.
Read the complete press release here.
The Honourable Peter Van Loan, Minister of International Trade, and Panama’s Minister of Commerce and Industry, Roberto Henríquez, today [May 14] signed the Canada-Panama Free Trade Agreement and parallel agreements on labour cooperation and the environment. The Right Honourable Stephen Harper, Prime Minister of Canada, witnessed the signing ceremony.
“Panama is a dynamic, innovative economy,” said Minister Van Loan. “Our government’s aggressive free trade agenda is opening new markets within the Americas, creating opportunities for Canadian businesses and workers and, as we recover from the global economic downturn, securing future prosperity for Canadians and our trading partners.”
“Today’s historic signing marks a new era in relations with a key partner and much-valued friend in the Americas,” said the Honourable Peter Kent, Minister of State of Foreign Affairs (Americas). “Our government is working with like-minded countries such as Panama to secure a brighter, more prosperous future for our hemisphere.”
The Canada-Panama Free Trade Agreement will lower tariffs on goods and remove other trade barriers to benefit a broad range of sectors, creating new opportunities for the Canadian construction, manufacturing and agriculture industries.
The Free Trade Agreement will also expand market access for Canadian service providers in areas such as information and communication technology, and engineering, environmental, energy and financial services. Investment provisions in the Free Trade Agreement provide greater protection for Canadian investments in Panama and will ensure greater transparency and security for Canadian investors. In addition, the Agreement will secure access to the government procurement market, including for the $5.4-billion expansion of the Panama Canal and other infrastructure projects.
Read the complete press release here.
Wednesday, August 12, 2009
Canada: Trade Agreement Signed with Panama
(New York Times – Bloomberg)
Prime Minister Stephen Harper of Canada and President Ricardo Martinelli of Panama [have] signed a free trade agreement, continuing Canada’s efforts to bolster investment and trade in the region after talks at the Doha round of World Trade Organization negotiations stalled. The agreement will remove tariffs on 90% of goods imported from Canada, with those remaining to be phased out over the next decade, Mr. Harper’s office said.
Canada exported $128 million Canadian dollars ($118 million) of goods like meat, forest products and flight simulators to Panama in 2008, up 48% from 2007, the office said.
Prime Minister Stephen Harper of Canada and President Ricardo Martinelli of Panama [have] signed a free trade agreement, continuing Canada’s efforts to bolster investment and trade in the region after talks at the Doha round of World Trade Organization negotiations stalled. The agreement will remove tariffs on 90% of goods imported from Canada, with those remaining to be phased out over the next decade, Mr. Harper’s office said.
Canada exported $128 million Canadian dollars ($118 million) of goods like meat, forest products and flight simulators to Panama in 2008, up 48% from 2007, the office said.
Friday, May 30, 2008
Thursday, May 29, 2008
Free Trade with Panama (Part 1)
U.S. Ambassador to Panama William Eaton projects benefits for both countries if and when Congress ratifies the free trade agreement signed last year.
The Canadian government has agreed to participate in exploratory discussions on the possibility of free trade agreement (FTA) negotiations with Panama. The initial meeting took place in the first week of May 2008 in Ottawa. Depending on the outcome of the exploratory talks, the government would embark on comprehensive consultations with stakeholders across Canada before any decision is taken on the launch of FTA negotiations. More information at the Foreign Affairs & International Trade website.
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