Forgot your account information?  |  Create a CME account

CME welcomes arrival of Canada-Colombia free trade agreement

Published by Steve Coleman on August 10, 2011

Canadian Manufacturers & Exporters looks forward to hearing the good news trade stories the Aug. 15 implementation of the Canada-Colombia Free Trade Agreement will create.

Colombia is already Canada's second-largest trading partner in South America, behind Brazil. The agreement will further open markets for both countries.

"Canada's trade with Colombia is growing and this trade agreement will provide the basis for Canadian businesses to realize future opportunities in a newly emerging Latin American market," said CME President and CEO Jayson Myers. "But every Canadian has a stake in our trade agreement with Colombia, as well, because by helping to stabilize and strengthen the Colombian economy we will also be strengthening political and social institutions in that country."

Under the FTA, Colombia will eliminate tariffs on most current Canadian exports and eliminate the rest in five to 10 years.

Both manufacturers and exporters can expect to benefit from the agreement, both on the industrial side and the service and financial sectors.

The inclusion of investment rules based on Canada's Foreign Investment Promotion and Protection Agreement model means investment in Colombia will have a better degree of security with access to international arbitration to resolve any disputes.

Found in: news

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan