(The Globe and Mail – Barrie McKenna)
A new study warning that free trade with Europe could cost Canada 28,000 jobs is a misguided ideological attack on open markets, Canadian Trade Minister Peter Van Mr. Van Loan Loan says.
The study by Canadian Auto Workers economist Jim Stanford for the Canadian Centre for Policy Alternatives concluded that a proposed Canada-Europe free trade deal would wipe out thousand of jobs in industries such as food processing, apparel making and the auto industry, while widening an already yawning trade deficit.
Mr. Van Loan said the CAW and CCPA are ideologically opposed to free trade, even though previous agreements clearly benefitted the Canadian auto industry and Canadian workers.
“The fact is they are ideologically opposed to an agreement that hasn’t even been completed yet,” Mr. Van Loan told reporters in Ottawa. “I have no difficulty dismissing that and focusing on the fact that this is a free trade deal that offers enormous upside potential for Canadian jobs.” Read more here.
Showing posts with label Peter Van Loan. Show all posts
Showing posts with label Peter Van Loan. Show all posts
Sunday, October 31, 2010
Friday, October 22, 2010
‘Sensitive’ Round of Canada-EU Trade Talks Kick Off
(Toronto Sun – Stefania Moretti, QMI Agency)
Canada and European Union trade officials met in Ottawa Monday to kick off the fifth and perhaps toughest round of negotiations to date on a free trade accord that could give a $12 billion annual boost to the economy.
Since the Comprehensive Economic and Trade Agreement (CETA) was first outlined in May 2009, progress has been relatively easy and has included some of the more obvious concessions such as reduced duties between Canada and the EU.
“As this round begins, we’re coming face to face with some of the tougher questions,” International Trade Minister Peter Van Loan said. “I thought that as we entered this crucial phase, it was important to be here personally, to underscore Canada’s commitment to these negotiations.” Read more here.
Canada and European Union trade officials met in Ottawa Monday to kick off the fifth and perhaps toughest round of negotiations to date on a free trade accord that could give a $12 billion annual boost to the economy.
Since the Comprehensive Economic and Trade Agreement (CETA) was first outlined in May 2009, progress has been relatively easy and has included some of the more obvious concessions such as reduced duties between Canada and the EU.
“As this round begins, we’re coming face to face with some of the tougher questions,” International Trade Minister Peter Van Loan said. “I thought that as we entered this crucial phase, it was important to be here personally, to underscore Canada’s commitment to these negotiations.” Read more here.
Thursday, October 14, 2010
Van Loan Tours Middle Eastern Countries, Talks Trade
(CTV News – The Canadian Press)
International Trade Minister Peter Van Loan is touring parts of the Middle East in a week-long effort to boost trade and encourage investment in Canada.
Much of the trip will be spent in Saudi Arabia where he will meet with his counterparts to lay the groundwork for better business relations between the two countries. Van Loan told the Saudi English newspaper Arab News he plans to discuss full access to the Saudi beef market, co-operation in the agriculture sector and the Kingdom’s threat to ban certain BlackBerry services. [...]
The newspaper also reports Van Loan will witness the signing of a memorandum of understanding committing both countries to strengthening their relationship in the health-care field. Read more here.
International Trade Minister Peter Van Loan is touring parts of the Middle East in a week-long effort to boost trade and encourage investment in Canada.
Much of the trip will be spent in Saudi Arabia where he will meet with his counterparts to lay the groundwork for better business relations between the two countries. Van Loan told the Saudi English newspaper Arab News he plans to discuss full access to the Saudi beef market, co-operation in the agriculture sector and the Kingdom’s threat to ban certain BlackBerry services. [...]
The newspaper also reports Van Loan will witness the signing of a memorandum of understanding committing both countries to strengthening their relationship in the health-care field. Read more here.
Tuesday, October 12, 2010
Harper Government Announces Exploratory Talks to Expand the Canada-Israel Free Trade Agreement
(Minister of International Trade)
The Honourable Peter Van Loan, Minister of International Trade, today [Sunday] concluded a two-day visit to Israel to promote closer commercial relations, including exploratory talks in order to expand the Canada-Israel Free Trade Agreement (FTA).
“The Canada-Israel Free Trade Agreement has been tremendously beneficial for our two countries. Two-way merchandise trade has more than doubled since its implementation,” said Minister Van Loan. “Canada’s ties to Israel are very deep, and our friendship is important. Our government is building on these ties and looking at opportunities to expand our trade relationship. We are committed to creating new sources of jobs, growth and prosperity for both of our countries in the years ahead.” [...]
Israel is a key economic partner for Canada. Since the Canada-Israel Free Trade Agreement came into force, two-way merchandise trade has more than doubled, reaching $1.3 billion last year. Israel is Canada’s sixth-largest merchandise export market in the Middle East.
For additional details on Minister Van Loan’s visit, consult Ministerial visit to Israel here.
Friday, September 24, 2010
Canada Introduces Bill to Enact Panama Free Trade Agreement
(Bloomberg BusinessWeek – Theophilos Argitis)
Canadian Trade Minister Peter Van Loan introduced legislation today to implement the country’s free-trade agreement with Panama.
The trade agreement was signed in May, and will give Canadian companies access to the government procurement market in the Central American country, including the expansion of the Panama Canal, Van Loan said at the time.
Monday, September 20, 2010
Canada to Bolster Latin American Relations
(The Globe and Mail)
Canada will continue to bolster relationships in Latin America through more free-trade agreements and the support of Canadian companies doing business there, Canada’s trade minister said Friday.
The federal government is in free-trade talks with many countries in the region, including Guatemala and Honduras, and will table a bill this fall for an FTA with Panama, Peter Van Loan said in a speech to a Toronto audience. Canada has strengthened ties with the region in recent years, and more Canadian companies are expanding there because of its high growth potential and geographic proximity.
“These countries are aggressively moving forward, embracing science, technology and innovation as never before, and reaching out to the world for business opportunities,” he said. Panama, he added, is a key market because of its “unique place in the global trading system,” where expansion plans for the canal are generating opportunities for Canadian companies.
Wednesday, September 1, 2010
Pushing Trade with Panama
(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.
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.
Van Loan Says Canada in Early Stages of Mercosur Trade Talks
(Bloomberg)
Canadian Trade Minister Peter Van Loan said the goverment has started exploratory trade discussions with South America’s Mercosur bloc, which consists of Argentina, Brazil, Paraguay and Uruguay.
“While it’s in an early stage yet, we are pleased with the first steps,” Van Loan said on a conference call with reporters.
Canadian Trade Minister Peter Van Loan said the goverment has started exploratory trade discussions with South America’s Mercosur bloc, which consists of Argentina, Brazil, Paraguay and Uruguay.
“While it’s in an early stage yet, we are pleased with the first steps,” Van Loan said on a conference call with reporters.
Monday, August 30, 2010
Canada and Costa Rica Set to Enhance Free Trade Agreement
(Minister of International Trade)
The Honourable Peter Van Loan, Minister of International Trade, announced yesterday that Canada and Costa Rica have agreed to work toward modernizing the existing bilateral free trade agreement. Minister Van Loan made the announcement following his meeting with the Costa Rican Foreign Trade Minister, Anabel Gonzalez.
“Our government’s aggressive free trade agenda is creating opportunities for Canadian businesses and workers and is securing future prosperity for Canadians and our trading partners in the hemisphere,” said Minister Van Loan. “Costa Rica is our largest trading partner in the region, and updating our free trade agreement is the logical next step in our growing commercial relationship.”
Canada and Costa Rica have enjoyed excellent bilateral relations, enhanced by the entry into force of the Canada-Costa Rica Free Trade Agreement in 2002, a first-generation agreement that focuses mainly on trade in goods and excludes substantive provisions in areas such as cross-border trade in services, government procurement, financial services and investment.
An updated free trade agreement could lower tariffs on goods and remove trade barriers in a broad range of sectors, creating new opportunities for the Canadian construction, manufacturing and agricultural industries. It could also expand market access for cross-border trade in services, financial services, electronic commerce, telecommunications and investment, as well as secure access to the government procurement market.
Two-way trade between Canada and Costa Rica totalled $441.8 million in 2009. In the same year, Canadian exports consisted mainly of preserved foods, machinery, and paper and paperboard.
Friday, July 23, 2010
Canada, U.S. Agree to Strengthen Economic Co-op, Trade
(Xinhua)
Canadian Minister of International Trade Peter Van Loan met on Thursday with Ron Kirk, U.S. Trade Representative, in Ottawa to discuss greater economic cooperation between Canada and the United States.
They discussed a wide range of issues, including the Canada-United States Agreement on Government Procurement, which resolved the Buy American issue earlier this year.
Building on the commitments made at the G-20 Summit, they also discussed the need to avoid protectionism and increase the 1.6 billion Canadian dollars in trade that crosses the border every day.
Following their meeting, Van Loan and Kirk told a press conference that the United States had agreed to transfer to Canada the collection of a 10 percent customs duty currently imposed on softwood lumber products imported into the United States from Ontario, Quebec, Manitoba and Saskatchewan.
As of Sept. 1, 2010, Canada will begin collecting this duty from the four provinces, and the revenue collected from this tax will stay in Canada and be distributed back to the four provinces. Read more here.
Tuesday, July 20, 2010
Canada Sees Steep Trade Rise After EU Trade Deal
(Reuters)
Canada expects trade with European Union to rise by some 20 percent in the five years after a trade deal between Canada and the EU is enforced, Canada’s trade minister said on Monday.
Canada is negotiating the free trade deal with the EU, which should ease trade and create new business opportunities. The deal is expected to be finalised in 2011, Peter Van Loan said during a visit to Slovenia as part of a European tour.
He told Reuters trade growth should be particularly high with new EU members, where there has so far been little bilateral business.
“I want to highlight ... that there is indeed a part of Europe where there has been high economic growth over the past 10 to 15 years and ... that there are opportunities here,” Van Loan said.
“A study projected a 20 percent increase in trade ... simply as a consequence of the agreement.” Read more here.
Wednesday, July 14, 2010
Movement Needed to Reach Free Trade Deal with South Korea
(Farmscape)
Canada’s Minister of International Trade says the Republic of Korea will need to show signs of movement on a number of issues in order to justify of resumption of negotiations aimed at achieving a free trade agreement between the two nations.
The Republic of Korea has free trade agreements in place with India, Chile, Singapore, the European free trade area and ten southeast Asian countries, agreements have been negotiated with the United States and the European Union and are awaiting ratification and negotiations are underway with eight other nations including Canada.
International Trade Minister Peter Van Loan says there has been considerable progress since negotiations began in 2005 but there are some relatively intractable issues on which we will need to see some movement by Korea… Read more here.
Canada’s Minister of International Trade says the Republic of Korea will need to show signs of movement on a number of issues in order to justify of resumption of negotiations aimed at achieving a free trade agreement between the two nations.
The Republic of Korea has free trade agreements in place with India, Chile, Singapore, the European free trade area and ten southeast Asian countries, agreements have been negotiated with the United States and the European Union and are awaiting ratification and negotiations are underway with eight other nations including Canada.
International Trade Minister Peter Van Loan says there has been considerable progress since negotiations began in 2005 but there are some relatively intractable issues on which we will need to see some movement by Korea… Read more here.
Saturday, July 10, 2010
Peter Van Loan’s Continuing Trade Talks Include Trip to Estonia
(Estonian Life)
In an exclusive interview, prior to leaving for bi-lateral talks with several European Union countries, Canada’s International Trade Minister Peter Van loan, has given Estonian Life a brief update on how free trade negotiations with the EU are developing. Read more here.
In an exclusive interview, prior to leaving for bi-lateral talks with several European Union countries, Canada’s International Trade Minister Peter Van loan, has given Estonian Life a brief update on how free trade negotiations with the EU are developing. Read more here.
Wednesday, June 23, 2010
Resisting Protectionism, Promoting Free Trade on Eve of G-8 and G-20 Summits
(Minister of International Trade)
International Trade Minister Peter Van Loan tells American Chamber of Commerce in Canada focus on economy is key to recovery
The Honourable Peter Van Loan, Minister of International Trade, today [Tuesday] called for increased focus on free and open trade, pointing to the Canada-United States relationship as an example of a free trade success story. The Minister delivered this message to the American Chamber of Commerce in Canada in advance of the G-8 and G-20 summits about to take place in Muskoka and Toronto.
“Canada believes that lasting economic recovery – not just in North America, but around the world – depends on free trade, not protectionism,” said Minister Van Loan. “This is the message we will be delivering to our existing and future trade partners at the upcoming G-20 meeting.”
In his remarks, Minister Van Loan highlighted Canada’s leadership in driving the free trade agenda and opening markets to Canadian businesses and Canadian workers, pointing to the continuing economic recovery as proof that the plan is working.
“Our government’s aggressive free trade agenda, coupled with decisive implementation of the Economic Action Plan, has generated results for Canada’s economic recovery,” said Minister Van Loan. “Our commitment to free trade, to fighting protectionism and to opening doors to new opportunities continues to fuel our economy and create jobs for Canadians at home and abroad. The Canada-United States trade relationship is an example of how partners can benefit from opening their borders to trade.”
The North American Free Trade Agreement has contributed to significant growth in trade and foreign direct investment in North America. Merchandise trade among Canada, Mexico and the United States has doubled since the agreement came into force, reaching $798.5 billion in 2009. It is now one of the largest free trade areas in the world, with some 448 million consumers.
While the Canada-United States trade relationship remains by far Canada’s most significant, Canada is moving to secure access to key markets around the world. In less than four years, the Government of Canada has built on the success of NAFTA by concluding new free trade agreements with Colombia, Peru, Jordan, Panama and the European Free Trade Association: Iceland, Liechtenstein, Norway and Switzerland.
International Trade Minister Peter Van Loan tells American Chamber of Commerce in Canada focus on economy is key to recovery
The Honourable Peter Van Loan, Minister of International Trade, today [Tuesday] called for increased focus on free and open trade, pointing to the Canada-United States relationship as an example of a free trade success story. The Minister delivered this message to the American Chamber of Commerce in Canada in advance of the G-8 and G-20 summits about to take place in Muskoka and Toronto.
“Canada believes that lasting economic recovery – not just in North America, but around the world – depends on free trade, not protectionism,” said Minister Van Loan. “This is the message we will be delivering to our existing and future trade partners at the upcoming G-20 meeting.”
In his remarks, Minister Van Loan highlighted Canada’s leadership in driving the free trade agenda and opening markets to Canadian businesses and Canadian workers, pointing to the continuing economic recovery as proof that the plan is working.
“Our government’s aggressive free trade agenda, coupled with decisive implementation of the Economic Action Plan, has generated results for Canada’s economic recovery,” said Minister Van Loan. “Our commitment to free trade, to fighting protectionism and to opening doors to new opportunities continues to fuel our economy and create jobs for Canadians at home and abroad. The Canada-United States trade relationship is an example of how partners can benefit from opening their borders to trade.”
The North American Free Trade Agreement has contributed to significant growth in trade and foreign direct investment in North America. Merchandise trade among Canada, Mexico and the United States has doubled since the agreement came into force, reaching $798.5 billion in 2009. It is now one of the largest free trade areas in the world, with some 448 million consumers.
While the Canada-United States trade relationship remains by far Canada’s most significant, Canada is moving to secure access to key markets around the world. In less than four years, the Government of Canada has built on the success of NAFTA by concluding new free trade agreements with Colombia, Peru, Jordan, Panama and the European Free Trade Association: Iceland, Liechtenstein, Norway and Switzerland.
Monday, June 14, 2010
Canada on the Hunt for Trade
(Tom Ford — Winnipeg Free Press)
When they were in the backyard garden of 10 Downing Street in London this month, British Prime Minister David Cameron told Prime Minister Stephen Harper something of significance, but which did not get much publicity. Cameron endorsed a proposed Canada-European Union trade agreement.
Canada wants Britain’s backing on our trade negotiations with the EU because we desperately need more places in which to sell our goods and services. As my sainted mother used to say: “You’ll have a big problem if you have too many eggs in one basket.”
At present, Canada has two major baskets: our domestic market and the United States, far and away our biggest export market. The Canadian market is frisky right now, but economists see it slowing late this year or early next. America is still having problems climbing out of the hole its grasping bankers pitched it in 2008.
Many Canadians don’t know about our trade initiative with the EU. But it’s “the most ambitious trade agreement we’ve ever had,” federal Trade Minister Peter Van Loan says. About 60 Canadian officials have been huddled in talks with their European counterparts in Ottawa’s former city hall, beside the Rideau River. Read more here.
When they were in the backyard garden of 10 Downing Street in London this month, British Prime Minister David Cameron told Prime Minister Stephen Harper something of significance, but which did not get much publicity. Cameron endorsed a proposed Canada-European Union trade agreement.
Canada wants Britain’s backing on our trade negotiations with the EU because we desperately need more places in which to sell our goods and services. As my sainted mother used to say: “You’ll have a big problem if you have too many eggs in one basket.”
At present, Canada has two major baskets: our domestic market and the United States, far and away our biggest export market. The Canadian market is frisky right now, but economists see it slowing late this year or early next. America is still having problems climbing out of the hole its grasping bankers pitched it in 2008.
Many Canadians don’t know about our trade initiative with the EU. But it’s “the most ambitious trade agreement we’ve ever had,” federal Trade Minister Peter Van Loan says. About 60 Canadian officials have been huddled in talks with their European counterparts in Ottawa’s former city hall, beside the Rideau River. Read more here.
Tuesday, June 8, 2010
Canada Builds Closer Trade and Investment Ties with Asia-Pacific Partners
(Minister of International Trade)
The Honourable Peter Van Loan, Minister of International Trade, today [Monday] reaffirmed Canada’s commitment to strengthen trade and economic cooperation with the Asia-Pacific region before wrapping up his trade visit to Japan.
While in Japan, Minister Van Loan attended the Asia-Pacific Economic Cooperation (APEC) Meeting of Ministers Responsible for Trade in Sapporo, where he held a number of bilateral meetings with counterparts from APEC member economies.
“The Asia-Pacific region is a priority for Canada,” said Minister Van Loan. “We are committed to APEC and will continue to work with our partners to promote economic growth, cooperation, trade and investment across the region.” Minister Van Loan stressed Canada’s support for economic integration in the Asia-Pacific region, including working toward a free trade area of the Asia-Pacific as a long-term objective. Minister Van Loan told his APEC counterparts that Canada, as host of the upcoming G-20 summit, will focus on restoring the health of the global economy and laying the foundation for future sustainable and balanced growth.
“Free trade and investment are vital to recovery from the global economic downturn,” said the Minister. “When Canada hosts the G-8 and G-20 summits later this month, we will be telling the world that partnerships, not protectionism, hold the key to global economic recovery.”
On the margins of the APEC meeting, Minister Van Loan continued to engage with Trans-Pacific Partnership members to assess how Canada might add value to the negotiations. Read more here.
The Honourable Peter Van Loan, Minister of International Trade, today [Monday] reaffirmed Canada’s commitment to strengthen trade and economic cooperation with the Asia-Pacific region before wrapping up his trade visit to Japan.
While in Japan, Minister Van Loan attended the Asia-Pacific Economic Cooperation (APEC) Meeting of Ministers Responsible for Trade in Sapporo, where he held a number of bilateral meetings with counterparts from APEC member economies.
“The Asia-Pacific region is a priority for Canada,” said Minister Van Loan. “We are committed to APEC and will continue to work with our partners to promote economic growth, cooperation, trade and investment across the region.” Minister Van Loan stressed Canada’s support for economic integration in the Asia-Pacific region, including working toward a free trade area of the Asia-Pacific as a long-term objective. Minister Van Loan told his APEC counterparts that Canada, as host of the upcoming G-20 summit, will focus on restoring the health of the global economy and laying the foundation for future sustainable and balanced growth.
“Free trade and investment are vital to recovery from the global economic downturn,” said the Minister. “When Canada hosts the G-8 and G-20 summits later this month, we will be telling the world that partnerships, not protectionism, hold the key to global economic recovery.”
On the margins of the APEC meeting, Minister Van Loan continued to engage with Trans-Pacific Partnership members to assess how Canada might add value to the negotiations. Read more here.
Friday, June 4, 2010
Canada’s Economic Success Story Recognized in China
(DFAIT)
Canada’s leadership in weathering the global economic downturn is being recognized around the world, said the Honourable Peter Van Loan, Minister of International Trade. During a four-day trade visit to China, Minister Van Loan promoted Canada’s economic success story to government and business leaders, highlighting Canada as a world-class destination for investment.
“With one of the most successful and innovative economies in the world, Canada offers many advantages as an investment destination and business partner,” said Minister Van Loan. “Chinese investors are enthusiastic about Canada’s success story and see our country as a hub of opportunity and as a dynamic business partner.”
During his visit to China, Minister Van Loan met with Gang Wan, China’s Minister of Science and Technology, and with Xiuhong Ma, the Vice Minister of Commerce. The ministers discussed how Canada and China can work closer together to create more opportunities and new sources of prosperity for both countries. Minister Van Loan also met with Han Zheng, Mayor of Shanghai, and with Shao Qiwei, Chairman of the China National Tourism Administration.
While in Shanghai, Minister Van Loan announced Invest in Canada Week to attract foreign investment. Invest in Canada Week will take place at the Canada Pavilion in October, during the Expo 2010 Shanghai China world’s fair. The Minister also highlighted the growing economic and trade partnership between the two countries to Chinese investors. Read more here.
Related: Van Loan, Flaherty sell Canada in China (Toronto Sun)
Canada’s leadership in weathering the global economic downturn is being recognized around the world, said the Honourable Peter Van Loan, Minister of International Trade. During a four-day trade visit to China, Minister Van Loan promoted Canada’s economic success story to government and business leaders, highlighting Canada as a world-class destination for investment.
“With one of the most successful and innovative economies in the world, Canada offers many advantages as an investment destination and business partner,” said Minister Van Loan. “Chinese investors are enthusiastic about Canada’s success story and see our country as a hub of opportunity and as a dynamic business partner.”
During his visit to China, Minister Van Loan met with Gang Wan, China’s Minister of Science and Technology, and with Xiuhong Ma, the Vice Minister of Commerce. The ministers discussed how Canada and China can work closer together to create more opportunities and new sources of prosperity for both countries. Minister Van Loan also met with Han Zheng, Mayor of Shanghai, and with Shao Qiwei, Chairman of the China National Tourism Administration.
While in Shanghai, Minister Van Loan announced Invest in Canada Week to attract foreign investment. Invest in Canada Week will take place at the Canada Pavilion in October, during the Expo 2010 Shanghai China world’s fair. The Minister also highlighted the growing economic and trade partnership between the two countries to Chinese investors. Read more here.
Related: Van Loan, Flaherty sell Canada in China (Toronto Sun)
Wednesday, June 2, 2010
Global Imbalances Threaten Recovery
(CTV News)
Even as Canada’s economy roars back to life, policy makers are pointing to an enduring problem lurking in the background and menacing a lasting global recovery.
In a statement Tuesday accompanying its decision to raise interest rates, the Bank of Canada cautioned that “the required rebalancing of global growth has not yet materialized.” In other words, some countries still spend more than they should, while others save far too much.
It’s a message that Canadian officials are carrying to China this week, as Finance Minister Jim Flaherty and Trade Minister Peter Van Loan visit Shanghai ahead of a meeting of the Group of 20 senior finance officials in South Korea.
They’re urging China to allow greater flexibility in its currency, something they say will help it boost the purchasing power of its own citizens. It would also be a major step in remedying the lopsided arrangement of the global economy, where China and other export-driven economies rely on demand from U.S. consumers to fuel growth. Read more here.
Even as Canada’s economy roars back to life, policy makers are pointing to an enduring problem lurking in the background and menacing a lasting global recovery.
In a statement Tuesday accompanying its decision to raise interest rates, the Bank of Canada cautioned that “the required rebalancing of global growth has not yet materialized.” In other words, some countries still spend more than they should, while others save far too much.
It’s a message that Canadian officials are carrying to China this week, as Finance Minister Jim Flaherty and Trade Minister Peter Van Loan visit Shanghai ahead of a meeting of the Group of 20 senior finance officials in South Korea.
They’re urging China to allow greater flexibility in its currency, something they say will help it boost the purchasing power of its own citizens. It would also be a major step in remedying the lopsided arrangement of the global economy, where China and other export-driven economies rely on demand from U.S. consumers to fuel growth. Read more here.
Thursday, May 20, 2010
Video Podcast With Minister Peter Van Loan
(DFAIT – Canadian Embassy-Washington, D.C.)
Peter Van Loan, Minister of International Trade, speaks about the importance of a positive relationship with the U.S. He emphasized that Canada is fighting protectionism and opening doors to international markets.
Related: Van Loan Says Canada-Europe Trade Accord May Come Ahead of Plan
Peter Van Loan, Minister of International Trade, speaks about the importance of a positive relationship with the U.S. He emphasized that Canada is fighting protectionism and opening doors to international markets.
Related: Van Loan Says Canada-Europe Trade Accord May Come Ahead of Plan
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.
Subscribe to:
Posts (Atom)
