OTTAWA, April 24, 2013 /CNW/ – The Scotiabank Emerging Markets Forum featured a panel discussion today with some of the country’s leading authorities on emerging market economic trends and export opportunities for Canadian businesses.

“By mid-century, emerging markets are predicted to account for 70% of global trade said Gillian Riley, Senior Vice President of Commercial Banking at Scotiabank. “Right now, less than 12% of Canada’s exports go to those markets.”

All presentations from the conference will be archived on the Scotiabank Media Centre at http://media.scotiabank.com/cdaen/multimedia/mc-videos.html

“Over the past several years, emerging markets have become major players in global economic growth,” added Ms. Riley, the event’s Master of Ceremonies. “It’s not just India and China. By 2030, the individual GDPs of Turkey, Indonesia, Mexico, Vietnam and Nigeria are on pace to surpass Canada’s. Scotiabank has long recognized the great potential and we’ve been in some of these markets for well over a century.”

Panelists’ at the Scotiabank Emerging Markets Forum included: Warren Jestin, Senior Vice President and Chief Economist, Scotiabank; Pablo Breard, Vice President, International Research, Scotiabank;  Jayson Myers, President and Chief Executive Officer, Canadian Manufacturers and Exporters; and Todd Winterhalt Vice President, International Business Development, Export Development Canada (EDC).

Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues. For more Scotiabank economic publications visit http://www.scotiabank.com/ca/en/0,,3112,00.html.

Scotiabank is a leading multinational financial services provider and Canada’s most international bank. With more than 82,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $736 billion (as at January 31, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE: Scotiabank

April 25, 2013 – The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today highlighted the importance of strengthening economic relations with Japan as part of the government’s ambitious pro-trade plan. The Minister addressed Canadian and Japanese business leaders in a keynote speech at the 2013 Canada-Japan Trade Symposium in Toronto. 

“Our government is focused on helping create jobs, growth and long-term prosperity by opening new markets that will increase our exports to large and dynamic economies around the world,” said Minister Fast. “That is why we are working hard to take our trade and investment relationship with Japan—the world’s third-largest economy—to the next level.” 

The second round of negotiations toward a Canada-Japan economic partnership agreement (EPA) have been taking place in Ottawa since April 22. Discussions are taking place in a number of key areas, including goods, services, government procurement and customs procedures; good progress is being made across the board.

The Canada-Japan Trade Symposium, hosted by the Canadian Chamber of Commerce, highlighted benefits of an EPA to key private-sector interests in Canada and Japan in areas such as manufacturing, technology, natural resources and agriculture. Representatives from Manulife Financial, the Japan Automobile Manufacturers Association, TimberWest, JA-Zenchu (Japan’s Central Union of Agricultural Co-operatives), Takeda Canada, Keidanren (Japan Business Federation) and other organizations participated in the symposium, suggesting that there is broad support within the business community in both countries for a Canada-Japan EPA.

In his speech, Minister Fast also highlighted his recent trade mission to Japan, his third visit to that country since being named international trade minister. While in Japan, the minister met with his counterpart, as well as with Japanese business leaders, to discuss the many ways Canada and Japan can continue to grow their trade and investment ties.

“Canada, together with other members of the Trans-Pacific Partnership [TPP], recently welcomed Japan as a new participant in the TPP negotiations,” said Minister Fast. “The addition of the world’s third-largest economy and a key player in the Asia-Pacific would make the TPP even more significant as one of the best ways to help increase our exports throughout the fast-growing Asia-Pacific region.”

A Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement found that such an agreement could translate into gains between US$3.8 billion and US$9.0 billion a year for Canada’s gross domestic product—equivalent to almost 30,000 new jobs or a boost of $325 to the average Canadian family’s income. The study also found that an ambitious agreement could grow Canada’s exports to Japan by as much as 67 percent.

Japan is the world’s third-largest national economy and Canada’s fourth-largest merchandise export market. In 2012, total Canadian exports to Japan reached nearly $10.4 billion. Leading merchandise exports to Japan included mineral fuels and oils, oil seeds and mineral ores. With nearly $12.8 billion invested in Canada in 2011, Japan is Canada’s largest source in Asia of job-creating investment.

March 12, 2013 – The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today marked the conclusion of the 16th round of the Trans-Pacific Partnership (TPP) negotiations, which took place in Singapore from March 4 to 13, 2013.

“Opening new markets for our exporters in fast-growing Asia-Pacific markets is key to creating new jobs and new sources of economic growth and prosperity for all Canadians,” said Minister Fast. “The TPP talks have been enhanced by Canada’s participation, and I am pleased that progress was made in Singapore.”

Canada formally joined the TPP on October 8, 2012. The TPP is a significant and strategic grouping of advanced and growing economies, which has the potential to become one of the largest trading blocs in the world.

Currently made up of 11 countries—Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam—the TPP represents a market of nearly 658 million people and a combined GDP of $20.7 trillion.

“The TPP offers a tremendous opportunity to expand our partnerships in Asia while reaffirming and invigorating existing relationships in the Americas,” said Minister Fast. “Concluding an agreement with our TPP partners that advances Canadian interests is a key part of the most ambitious trade expansion plan our country has ever seen.”

In less than six years, the Harper government has concluded trade agreements with nine countries: Colombia, Honduras, Jordan, Panama, Peru, and the European Free Trade Association member states of Iceland, Liechtenstein, Norway and Switzerland. Canada is also engaged in negotiations with large, dynamic and fast-growing markets, including the European Union, India and Japan.

March 12, 2013 – Hanoi, Vietnam – Foreign Affairs Minister John Baird meets with Vietnam’s President Truong Tan Sang.

The two men discussed a range of issues including the two countries’ growing commercial relationship and significant development cooperation.

Baird also met with his counterpart, Foreign Minister Pham Binh Minh, in Hanoi and raised issues relating to economic and political development in Vietnam, as well as human rights and religious freedom.

This meeting is part of Baird’s three-day visit to Asia, his seventh as foreign minister. The trip is meant to promote Canada’s interests and project Canadian values while diversifying Canada’s trade relations in the Asia-Pacific region.

This year marks the 40th anniversary of Canada-Vietnam bilateral relations.

Mar 12 2013  – Using intellectual property – such as patents, trademarks and copyrights – to support African innovation and identity is among the topics discussed today at two major conferences organized by the United Nations World Intellectual Property Organization (WIPO).

Ministers for science and technology from approximately 20 countries, research and development institutions and entrepreneurs are joining WIPO, the Japan Patent Office and the Government of Tanzania to see how intellectual property (IP) can be used to promote innovation and creativity.

“Intellectual property is an indispensable mechanism for translating knowledge into commercial assets – IP rights create a secure environment for investment in innovation and provide a legal framework for trading in intellectual assets,” WIPO Director General Francis Gurry told the opening of the African Conference on the Strategic Importance of Intellectual Property Policies to Foster Innovation, Value Creation and Competitiveness.

The two-day conference in Dar es Salaam will also address the importance of innovation to address some of today’s most pressing global challenges, such as public health, food security and climate change, and assist countries in developing national innovation strategies.

Investment in knowledge creation, and the maintenance of a robust and balanced IP system, should feature prominently in any strategy to ensure sustainable economic growth, Mr. Gurry noted. 

Among its projects, WIPO oversees public databases central to the UN’s wider efforts to create an open, inter-connected and inclusive IP knowledge-sharing infrastructure. The Geneva-based agency recently enlarged its Global Brand Database, which now lists 10.9 million national data records from collections made available by Algeria, Australia, Canada, Egypt, Estonia, Morocco, Switzerland, United Arab Emirates and the United States. 

Meanwhile, ministers and senior officials taking part in the conference now underway will remain in Dar es Salaam to participate in a meeting jointly organized by WIPO and the UN Economic and Social Council (ECOSOC) on 14 March.

ECOSOC is one of the principal bodies of the UN and is responsible for coordinating the economic and social work of the Organization, as well as the work of WIPO and 13 other UN specialized agencies, their functional commissions and five regional commissions.