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.
Canadian Government Opens New Markets in Middle East and North AfricaTuesday, October 09, 2012 > 09:56:51
(The Information Daily)
On his trade mission to Saudi Arabia and Jordan, The Minister of International Trade, Ed Fast, says increasing Canadian exports will lead to jobs, growth, and prosperity.
Together with Tawfiq bin Fawzan Al-Rabiah, Saudi Arabia’s Minister of Commerce and Industry, Fast announced the relaunch of the Canada-Saudi Arabia Joint Economic Commission (JEC). This marks the most ambitious trade expansion plan in Canadian history, and is expected to help expand and diversify trade between the two countries.
“Reinvigorating the Joint Economic Commission will help us take our bilateral relationship to the next level and help Canadian businesses succeed in the Middle East and the North African market,” said Fast.
Representatives of more than 20 Canadian businesses and organizations have joined him on the trade mission. The mission is focused on education, health care and infrastructure; areas where Canadian expertise is significant.
More than 16,000 Saudi Arabians are now studying in Canada, making Saudi Arabia Canada’s fourth-largest source of international students. Saudi Arabia is also currently investing in education and health-care facilities, transport, water, power, urban development and other infrastructure projects.
Saudi Arabia is Canada’s largest trading partner in the Middle East, with two-way merchandise trade reaching $3.6 billion in 2011. Canadian exports to Saudi Arabia are also growing rapidly, having almost equalled the $860 million total exports for 2011 by July 2012.
Canada has offered to host the first meeting of a revitalized JEC in 2013.