Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Harper Government Announces Modernization of Free Trade Agreement with ChileMonday, April 13, 2015 > 09:52:20
(Foreign Affairs, Trade and Development Canada)
The Honourable Rob Nicholson, P.C., Q.C., M.P. for Niagara Falls, Minister of Foreign Affairs, and Heraldo Muñoz, Chile’s Minister of Foreign Affairs, today announced the conclusion of negotiations to modernize the Canada-Chile Free Trade Agreement (CCFTA). The announcement took place on the margins of the Seventh Summit of the Americas in Panama City.
A key part of the government’s pro-trade plan, the most ambitious in Canadian history, is to expand and modernize past agreements in order to maximize the benefits for hard-working Canadians and their families. These important updates will make the CCFTA a 21st-century, next-generation trade agreement, ensuring that Canadian businesses can export their goods, creating jobs and economic prosperity across Canada.
The modernized agreement contains a new chapter on sanitary and phytosanitary measures, and technical amendments to the existing government procurement chapter. In addition, both countries agreed to bring amendments to CCFTA rules of origin into force as soon as possible.
Engagement in the Americas has been a Canadian foreign policy priority since 2007. The updated Canada-Chile trade agreement is an important step toward creating the conditions for a dynamic, transparent and rules-based commercial and investment environment with Canada’s economic partners in the Americas.
With the modernization of the CCFTA, Canada and Chile—both of which are members of the ongoing plurilateral Trans-Pacific Partnership negotiations—have demonstrated that they are capable of and committed to finding innovative ways to secure the mutual benefits of trade on a bilateral basis.
- Chile is a priority market under Canada’s Global Markets Action Plan, the Harper government’s blueprint for creating jobs and growth through exports.
- Canada-Chile merchandise trade reached $2.86 billion in 2014.
- Canadian merchandise exports to Chile that year reached $1.14 billion, an increase of 42 percent over 2013.
“Canada values its strong bilateral partnerships in the Americas. A key part of our government’s trade expansion plan, the most ambitious in Canadian history, is to expand and modernize past agreements to maximize the job-creating benefits they produce for hard-working Canadians and their families. We will continue to open new markets for our exporters and ensure Canadian businesses and workers have the competitive edge and tools they need to continue to succeed abroad.”
- Rob Nicholson, Minister of Foreign Affairs
“Our government’s top priority is to create jobs, growth and long-term prosperity for all Canadians. The modernization of the Canada-Chile Free Trade Agreement ensures that this agreement is of the same high standards as our modern free trade agreements. This is the latest example of how our government’s pro-export plan is getting results for Canadian businesses, workers and their families.”
- Ed Fast, Minister of International Trade