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Enterprise Canada Network honoured in trade and investment government celebration

Published by Brad Fougere on October 01, 2014

October 1, 2014 - Ottawa, Ontario - Foreign Affairs, Trade and Development Canada

The Honourable Ed Fast, Minister of International Trade, today took stock of the recent historic trade achievements in key markets, which directly benefit hard-working Canadians. A number of significant milestones in opening markets for Canadian businesses were accomplished in September 2014, making it a historic month in Canada’s job-creating, pro-trade plan.

On September 26, Prime Minister Stephen Harper hosted Herman Van Rompuy, President of the European Council, and José Manuel Barroso, President of the European Commission, on the occasion of the Canada-European Union (EU) Summit. The three leaders celebrated a new era in the Canada-EU relationship, with the end of negotiations and the release of the complete text of the Canada-EU trade agreement. The agreement opens the way to vastly increased trade, job creation and greater prosperity with preferred access to the world’s largest and most lucrative market, with more than 500 million consumers. Canada’s leading business associations—representing firms from all sectors and regions of the country—also announced the launch of the Coalition for Canada-EU Trade, ensuring that the agreement achieves its full potential. Export Development Canada and Canadian Manufacturers & Exporters also recently launched the Enterprise Canada Network, providing small to medium-sized enterprises in Canada with more than 30,000 business opportunity profiles posted through the European ‎Commission’s Enterprise Europe Network.

On September 22, Prime Minister Harper hosted Park Geun-hye, President of South Korea, and witnessed the signature of the Canada-Korea Free Trade Agreement, Canada’s first free trade agreement in the Asia-Pacific region. The agreement will open the door to Canadian businesses and workers and provide them with a gateway in Asia, enhancing their global competitiveness.

On September 17, Prime Minister Harper and Petro Poroshenko, President of Ukraine, directed officials to accelerate work on the Canada-Ukraine free trade negotiations.

On September 15, Canada and Honduras announced that the Canada-Honduras Free Trade Agreement would enter into force on October 1. This is Canada’s seventh free trade agreement in the Americas.

On September 12, Canada announced that the Foreign Investment Promotion and Protection Agreement (FIPA) between Canada and China will come into force on October 1, helping to ensure that Canadian companies doing business in China are treated fairly and benefit from a more predictable, secure and transparent business environment. Canada also signed a FIPA with Serbia on September 1 and announced the coming into force soon of the Canada-Cameroon FIPA, bringing to a total of 22 the number of investment agreements concluded since 2006. Including the agreement with China, Canada now has 27 FIPAs in force around the world.

Given these historic achievements, and under Canada’s Global Markets Action Plan, the Harper government is clearly committed to continuing to provide the tools to ensure Canadian businesses, especially small and medium-sized enterprises (SMEs), seize these new opportunities to boost their exports. Therefore, vigorous trade promotion efforts and activities are being planned so SMEs can realize their full export potential, creating jobs and opportunities in every region of the country.

Quick Facts

  • Canada is a trading nation, with trade generating the equivalent of approximately 60 percent of GDP and being responsible for one in five jobs in Canada.
  • Since 2006, Canada has concluded free trade agreements with no less than 38 countries, bringing the total to 43, making up more than half of the global economy and representing nearly one quarter of the world’s countries.
  • In fact, a joint study concluded that a trade agreement with the EU could boost Canada’s income by $12 billion annually and bilateral trade by 20 percent. This is equivalent to creating almost 80,000 new jobs or increasing the average Canadian family’s annual income by $1,000.
  • The Canada-Korea Free Trade Agreement is expected to create thousands of new jobs in Canada, boost Canada’s GDP by $1.7 billion and increase Canadian exports to South Korea by 32 percent.
  • According to Export Development Canada, of the more than 1 million SMEs active in Canada, 41,000 are currently exporting. Under the Global Markets Action Plan, the Government of Canada is working with SMEs to grow their export presence in priority markets.

Quote

“Opening new markets around the world to boost Canadian exports and providing the protection to Canadians to invest abroad are key to creating jobs and opportunities for hard-working Canadians in every region of the country.

“Our government is delivering results on every continent, and we are committed to continue helping Canadian businesses succeed abroad, which creates jobs and prosperity at home. We are doing this by removing tariffs and trade barriers, providing preferred market access, investment protection and sustained trade promotion efforts, such as trade missions and the support of the Canadian Trade Commissioner Service, working together with Export Development Canada, the Canadian Commercial Corporation and the Business Development Bank of Canada.”

- Ed Fast, Minister of International Trade

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