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Trade News

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.

 

Canada: International Trade Minister signs landmark agreement with Pacific Alliance countries

Thursday, June 09, 2016 > 12:46:49
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(Global Affairs Canada)

Canada today became the first observer country to enter into a strategic partnership with the Pacific Alliance, one of the most important economic blocs in the Americas. The Honourable Chrystia Freeland, Minister of International Trade, and ministers of the four countries of the Alliance—Chile, Colombia, Mexico and Peru—signed a joint declaration today in Mexico City, Mexico.

The declaration formalizes the Canada-Pacific Alliance relationship and provides a framework for longer-term collaboration on a broad range of issues of mutual interest.

Deepening our relationship with Pacific Alliance countries will help to promote trade, which, in turn, creates more good-paying jobs for the middle class and those working hard to join it.

Quotes

“Canada has supported the Pacific Alliance since its inception, as well as its collaborative approach to promoting trade and investment. Canada’s close and growing ties with the Pacific Alliance form the foundation for a long-term partnership that builds on our progressive trade agenda. Together, we will continue to bring prosperity to the region and to middle-class Canadians.”

- Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade

Quick facts




  • Canada’s total merchandise trade with the Pacific Alliance reached $46.2 billion in 2015. The four countries account for more than 70 percent of Canada’s two-way trade with the whole Latin American region.

  • The countries of the Pacific Alliance have a combined population of 225 million, and in 2014, they accounted for over 58 percent of Latin America’s total trade and 36 percent of the region’s GDP.

  • Canada was the first non-Latin American country to become an observer with the Pacific Alliance.

  • There are approximately 245,000 Canadians from the four Pacific Alliance countries currently living in Canada. In 2015 there were more than 7,700 students from Pacific Alliance countries studying in Canada.


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