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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 moving toward pact with China

Thursday, October 06, 2011 > 12:47:21

Ed Fast says he's concerned with the rise of protectionism

By Jason Fekete, Postmedia News October 4, 2011  

Federal Trade Minister Ed Fast says he's concerned "protectionism is on the rise" amid global economic turmoil, but is confident Canada will soon ink a key trade deal with China and complete negotiations with the European Union in 2012.

Fast said Monday he's preparing for a trade mission next week to China - a country he believes is a key customer for Canada's vast natural resources - and expects negotiations with the communist government on a foreign investment and protection agreement will be completed soon. A Canada-China free trade deal could be years away, however. His mission could lay the groundwork for an expected trip later this year by Prime Minister Stephen Harper to China, as the Conservative government looks to develop stronger ties with the world's fastest-growing economy.

"This is a clear indication of the focus of our government on expanding our trade and investment with China and . . . diversifying Canada's trading relationships around the world," Fast told reporters over the phone from Indonesia, where he was completing a trade mission.

Canada and China are currently negotiating a foreign investment and protection agreement that will "set the ground rules for those who want to invest in China" and for Chinese companies that want to do the same in Canada, he noted.

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