Canada’s pro-export plan, reinforced by the Canada-European Union and Canada-South Korea trade agreements, makes it a top investment destination
January 24, 2015 – Davos, Switzerland – Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today concluded the second stop of his trade mission to Europe, at the World Economic Forum (WEF).
Minister Fast met with Cecilia Malmström, European Union Trade Commissioner, to discuss the new opportunities created on both sides of the Atlantic by the Canada-European Union trade agreement. They reiterated their support for its quick ratification and encouraged businesses to position themselves to realize its full potential.
Minister Fast held meetings with European business leaders, including John Cridland from the Confederation of British Industry. This builds on Minister Fast’s meeting in Rome with the Italian business association, Confindustria. Both organizations have been strong supporters of the Canada-EU trade agreement.
Minister Fast hosted a round table attended by his colleagues and Canadian business leaders to discuss their plans to capitalize on the new opportunities the Canada-EU trade agreement presents.
On the margins of the WEF, Minister Fast held bilateral meetings with his counterparts to continue advancing Canada’s interests on the world stage. He met with Ambassador Michael Froman, U.S. Trade Representative, continuing to address the United States’s protectionist “Buy America” measures and urging the country to make legislative changes to comply with the WTO’s Country of Origin Labelling (COOL) ruling. Minister Fast and Ambassador Froman also reviewed the advancement of the Trans-Pacific Partnership (TTP) negotiations.
Minister Fast also met with Cesar Purusima, Secretary of Finance of the Philippines. They discussed the agenda for the upcoming Asia-Pacific Economic Cooperation summit, which the Philippines is hosting in 2015 and the shared interest of advancing opportunities for small and medium-sized businesses. They also reviewed key aspects of the Canada-Philippines trade and investment relationship and ways in which this partnership could be strengthened. Minister Fast also met with Mustapa Mohamed, Minister of International Trade and Industry of Malaysia. Malaysia is the 2015 chair of the Association of Southeast Asian Nations.
Minister Fast addressed a session, along with EU Trade Commissioner Malmström, on trade and investment in the 21st century, during which he promoted Canada as a top destination for investment and a strong partner for trade.
Minister Fast also participated in the informal WTO ministerial meeting on the margins of the WEF, where he urged all members to work diligently between now and July to define a plan that will lead to the conclusion of the Doha Round at the next WTO Ministerial Conference. He also reiterated that it is important to conclude negotiations on the WTO’s information technology, trade in services and environmental goods agreements as soon as possible, to the benefit of all.
“This past year was a truly historic one for Canada’s pro-job, pro-export plan. Canada is a proud trading nation, and the historic Canada-EU and landmark Canada-South Korea trade agreements are significant achievements. Under Canada’s Global Markets Action Plan, we will continue our vigorous trade promotion efforts to boost our exports and create new opportunities for Canadian businesses. At the World Economic Forum, as part of my trade mission to Europe, I promoted Canada as a strong trading partner to continue creating new jobs and prosperity for hard-working Canadians from coast to coast to coast.”
– Ed Fast, Minister of International Trade
Office of the Honourable Ed Fast
Minister of International Trade