May 9, 2013 – The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today celebrated Europe Day by marking Canada’s entry into the Enterprise Europe Network (EEN), an initiative that will provide Canadian businesses with a one-stop point of access for information, contacts and resources for business opportunities in the European market. Canadian Manufacturers & Exporters (CME) has been named Canada’s lead organization in the EEN.

“Our government is focused on what matters to Canada’s world-class manufacturers and exporters: opening up new markets that create new business opportunities and new sources of jobs, growth and long-term prosperity,” said Minister Fast. “That is why we are grateful to organizations like CME for rising to the challenge and making proactive efforts to help Canadian businesses take advantage of the new opportunities that stem from our trade and investment agreements, including our ongoing negotiations toward a comprehensive Canada-EU trade agreement.”

“Our partnership in the EEN will provide Canadian companies with critical linkages to find new customers, identify new technology partnership opportunities and grow their businesses,” said Jayson Myers, President and CEO of CME. “It’s an exciting initiative for CME—and Canada—to be a part of. Through the EEN, we can clearly see the immense scope of technology and business opportunities open to Canadian businesses in European markets. Our job will be to help link businesses together across the Atlantic.”

The EEN, a network of more than 600 business-support organizations located in 50 countries worldwide, is dedicated to helping small and medium-sized companies identify and take advantage of opportunities for international technology and business partnerships. The EEN has facilitated more than 13,000 partnerships since 2008. CME will be working with other business-support organizations across Canada to help Canadian companies find highly qualified partnership opportunities in Europe.

A joint study concluded that an ambitious trade agreement with the European Union would be of significant benefit to Canada, resulting in a 20-percent boost in bilateral trade and a $12-billion increase in Canada’s annual income (gross domestic product). This translates to the equivalent of an increase of $1,000 to the average Canadian household’s income or 80,000 new jobs.

“An ambitious agreement with the European Union would produce substantial gains in key sectors across every region of Canada, generating significant benefits for businesses, workers and their families,” said Minister Fast. “Lowering tariff barriers would provide better access to the lucrative EU market of 500 million consumers and increase sales of world-class Canadian exports.”

The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion. A comprehensive economic and trade agreement (CETA) with the European Union is, by far, Canada’s most ambitious trade initiative to date, broader in scope than the historic North American Free Trade Agreement.

For more information on the CME-EEN partnership visit Enterprise Europe Network (Canada).

For more information on the CETA, visit Canada-EU Trade Agreement: Opening New Markets in Europe.

May 13, 2013 (Accra) - Foreign Affairs Minister John Baird today signalled Canada’s intent to deepen trade and investment with Ghana—one of the world’s fastest-growing economies. Baird and his Ghanaian counterpart, Hanna Tetteh, agreed that finalizing a foreign investment promotion and protection agreement is a matter of priority in relations between the two countries.

“Our government is committed to increasing trade and diversifying our engagement with fast-growth countries like Ghana,” said Baird. “Ghana is very much a symbol of the new Africa—one in which aid recipients are becoming important trading partners, and political stability allows for economic dynamism.”

He added, “Such an agreement, once in effect, will help bolster investment confidence to make the most of the abundant opportunities that exist here, contributing to job creation and economic growth in both countries.

Ghana has seen extremely high economic growth in recent years, which has positive implications for the people of Ghana and for Ghana’s trading partners, including Canada. Canadians and Canadian companies are well placed to be part of Ghana’s exciting transition.

International Trade Minister Ed Fast’s trade mission to Ghana in February 2013 demonstrated Canada’s commitment to helping Canadian businesses and workers take advantage of the new opportunities such high-growth markets have to offer.

May 17, 2013 – The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, and the Honourable Bal Gosal, Minister of State (Sport), met today in Brampton, Ontario, with members of the Indo-Canadian business community to highlight the benefits for small and medium-sized enterprises (SMEs) of an ambitious Canada-India comprehensive economic partnership agreement (CEPA). The event’s hosts were the Indo-Canada Chamber of Commerce and the Brampton Board of Trade.

“With SMEs accounting for more than 99 percent of companies in Canada, our government understands the crucial role that these businesses play in generating jobs, growth and prosperity in every region of our country,” said Minister Fast. “That’s why we continue to work hard to open new markets for our exporters in the largest, most dynamic and fastest-growing economies in the world, including India.”

To date, the Canada-India trade negotiations have undergone seven official rounds. A CEPA would benefit Canadian workers and SMEs by eliminating or reducing tariffs on goods, cutting red tape and facilitating trade in services. Canada has identified core economic opportunities in India in the energy, agriculture, infrastructure and education sectors.

“Further fuelling Canada’s growing trade with India are our strong people-to-people ties,” said Minister Gosal. “Nearly one million Canadians of Indian descent enrich our communities in cities and towns across Canada, and our government is committed to utilizing these strong links to build a partnership that will lead to new opportunities and new sources of prosperity in both countries.”

In less than six years, Canada has concluded free trade agreements with nine countries: Colombia, Honduras, Jordan, Panama, Peru and the European Free Trade Association member states of Iceland, Liechtenstein, Norway and Switzerland. In addition to India, Canada is engaged in negotiations with large, dynamic and fast-growing markets such as the European Union, Japan and the countries that comprise the Trans-Pacific Partnership.

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.