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Minister Fast to Lead Trade Mission to the PhilippinesFriday, July 18, 2014 > 08:49:23
The Honourable Ed Fast, Minister of International Trade, today announced that he will lead a trade mission to Australia and the Philippines to advance the interests of Canadian companies, especially small and medium-sized enterprises (SMEs).
The Minister will also represent Canada at the G-20 Trade Ministers Meeting being held in Sydney, Australia, on July 18 and 19.
The G-20 Trade Ministers Meeting will focus on coordinating national economic policies in order to contribute to strong, sustainable and balanced growth. Minister Fast will highlight Canada’s ambitious pro-trade plan to create jobs and opportunities for Canadians at home and abroad.
In the Philippines, Minister Fast will promote Canada’s interests in the agriculture, defence, information and communications technologies and sustainable technologies sectors. He will also highlight the important and growing people-to-people ties that exist between Canada and the Association of Southeast Asian Nations, of which the Philippines is a member.
While in Manila on July 21 and 22, Minister Fast will meet with Gregory Domingo, the Philippines’ Secretary of Trade and Industry, and with senior business leaders to discuss how the Philippines is driving domestic and international economic development, trade and investment by partnering with Canada and Canadian companies to fuel its economic growth.
This is Minister Fast’s 15th visit to Asia and his second visit to both Australia and the Philippines.
- Australia is a priority country in Canada’s Global Markets Action Plan.
- Bilateral merchandise trade between Canada and Australia was valued at $3.45 billion in 2013. Canada’s top exports to Australia in 2013 were mechanical and electrical machinery and aircraft. Its top imports in 2013 were inorganic chemicals, precious stones and wine.
- The G-20 is the premier forum for international economic cooperation, with members accounting for 85 percent of global output and two thirds of the world’s population.
- On June 27, 2014, the Philippines was added to the list of Canada’s development countries of focus.
- Bilateral merchandise trade between Canada and the Philippines was $1.7 billion in 2013, up 14.6 percent from the previous year. The Philippines is one of Canada’s top 10 markets for agri-food exports.
- There are approximately 662,600 people of Philippine descent in Canada. In recent years, the Philippines has become one of the largest source countries for immigrants to Canada.
“There is no better fuel for the economy than solid economic fundamentals supported by free and open trade. Taking concrete action to foster increased trade is a critical part of how the G-20 can collectively boost its GDP by an additional 2 percent.
“Our government is committed to creating jobs, growth and long-term prosperity, which is why I am also leading a trade mission to Australia and the Philippines. A key part of Canada’s Global Markets Action Plan includes broadening and strengthening Canadian exports and our investment relationships in dynamic and fast-growing markets, while supporting our SMEs as they explore doing business with them.”
- Ed Fast, Minister of International Trade