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.
Minister Fast Welcomes New Peru Trade InitiativeMonday, May 25, 2015 > 11:24:52
(Foreign Affairs, Trade and Development Canada)
International Trade Minister Ed Fast and Peru’s Minister of Foreign Trade and Tourism Magali Silva welcome the Peru-Canada Trade and Branding Initiative during a bilateral meeting held on the margins of the APEC Ministers Responsible for Trade Meeting.
The initiative, to be led by Canadian company Brandtrade, will help to increase the production and export capacity of Peruvian artisans, stimulating sustainable economic growth in order to reduce poverty—a priority for Canada’s international development assistance.
The ministers also discussed the deep bilateral commercial relationship between Canada and Peru, which is supported by a number of important agreements, including the Canada-Peru Free Trade Agreement and labour cooperation and environment agreements, and cooperation in the Pacific Alliance and the Trans-Pacific Partnership negotiations. Peru is also a strategic partner in Canada’s engagement in the Americas, which is based on a vision of a more prosperous, secure and democratic hemisphere.
Peru is a priority market under Canada’s Global Markets Action Plan, the government’s blueprint for creating jobs and economic growth through trade. In 2014, Canadian merchandise exports to Peru jumped more than 30 percent over 2013 to $796 million, bilateral merchandise trade between Canada and Peru totalled $3.8 billion and Canadian foreign direct investment in Peru reached nearly $10.2 billion, an increase of more than 16 percent from the previous year.
Following the APEC meeting, Minister Fast will lead a five-day trade mission to Manila and Cebu, Philippines, from May 24 to 28, 2015, with over 50 participants from more than 40 companies and organizations. He will be joined by Senator Tobias Enverga Jr.