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CME applauds government's aggressive action to support business expansion into new markets

Published by Steve Coleman on August 12, 2011

Today's announcement by the Prime Minister to launch free trade negotiations with Honduras is a positive step and is supported by CME and our members across the country. As the U.S. economy, which will remain Canada's primary export market for most sectors, continues to struggle Canadian companies are much more aggressive in looking for market opportunities in new and emerging markets.

Jayson Myers, CME's President & CEO stated that: "Honduras represents about $250 million in annual bi-lateral trade for Canadian companies, and while this is a small portion of Canada's overall trade, it is an important step forward for overall Canadian trade. If this deal is completed, when paired with other FTA's in Central and South America, including Chile, Costa Rica, Peru, and Panama, Canadian companies now have a large and growing market to expand their business in a wide range of sectors including agriculture, machinery and equipment, mining and natural resources and clothing and other consumer goods."

"The aggressive actions this week by the Prime Minister and the government focused on opening new market opportunities in Brazil, Costa Rica and now Honduras is a critically important signal to Canadian business that this government is serious about supporting Canadian businesses' access into new and emerging markets," added Myers.

"While FTAs are welcome and a great start towards this objective this is only one element of the trade program that Canada must offer our companies if they are going to be successful. The government must ensure that in addition to eliminating both tariff and non-tariff barriers through FTAs, it must continue to offer support for companies through professional consulates and trade commission services in key markets and through effective export financing and insurance programs."

 


Mathew Wilson
Vice President, National Policy
Canadian Manufacturers & Exporters
c: (647) 808.8231

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