Friday, June 13, 2008

Canada-Colombia FTA

Canada-Colombia FTA
(Foreign Affairs & International Trade Canada)

On June 7, 2008, Canada concluded free trade agreement (FTA) negotiations with Colombia, as well as negotiations for an Agreement on the Environment and a Labour Cooperation Agreement. The conclusion of these agreements delivers on Prime Minister Stephen Harper's commitment to Canada's re-engagement in the Americas. Once implemented the agreements will expand Canada-Colombia trade and investment, and will help solidify our bilateral relationship.

Now that negotiations are concluded, a legal review of the negotiated texts will be carried out. Following the legal review, the agreements will be signed by the parties, released to the public, and proceed to each country’s respective legislative bodies for ratification. To allow the agreements to enter into force in Canada, the treaties will be tabled in the House of Commons for a period of 21 sitting days, after which the legislation to implement the treaties will be tabled in Parliament.

Benefits for Canada

Colombia is an established and growing market for Canadian exporters (e.g. wheat, pulses, barley, chemicals, paper products, and heavy equipment) and services providers (mining, oil and gas, engineering, information and communication sectors), as well as a strategic destination for Canadian direct investments (mining, oil exploration, printing and education).

Once implemented, the FTA with Colombia will stimulate the growth of our commercial relationship and help level the playing field for Canadian business vis-à-vis competitors who have or are seeking preferential market access in Colombia.

The FTA will also promote a more stable and predictable investment environment in Colombia.

Complete Announcement

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