Canada Moves Forward on Latin American Trade Deals
Canada Moves Forward on Latin American Trade Deals
Prime Minister Stephen Harper travels to Mexico and Panama in the coming days. Canadian Senator Pamela Wallin writes about the probable inking of a trade deal during the prime minister's Panama visit as well as the successful conclusion of Ottawa's trade deal with Peru.
Canadian Prime Minister Stephen Harper is headed to the North American Leaders Summit in Guadalajara, Mexico August 9 and 10, 2009 where he’ll meet with U.S. President Barack Obama and Mexican President Felipe Calderón. In addition to the global economic crisis and trade, discussions will also focus on energy, environment, and the outbreak of type A/H1N1 influenza.
After the the summit, Prime Minister Harper travels on to Panama to meet with President Ricardo Martinelli and discuss free trade. Canada and Panama have been in negotiations to close a free trade deal for 10 months now and the Toronto Star reported the two leaders will use the occasion of the prime minister's visit to sign the pact. Such a deal with Panama would be consistent with the Canadian government’s intent to expand ties with Latin America through increased trade and foreign aid
As part of Canada’s global commerce strategy, trade deals with Colombia and Peru were concluded earlier this year, thought the former awaits approval. Political opposition in Canada over human rights stalled the Colombian deal in the Canadian Parliament, although negotiations will continue this fall.
But the good news is that the Canadian Senate passed the Canada-Peru free trade deal in June and the enacting legislation has now come into effect Aug. 1, 2009. In welcoming this move toward freer trade, Canada’s Trade Minister, Stockwell Day, explained Canada’s trade strategy: “Ensuring free and open trade is vital to international efforts to halt the global recession. Our economic prosperity depends on creating new opportunities through open markets, and this free trade agreement with Peru will provide such opportunities with one of the most dynamic economies in Latin America.”
The successful conclusion of the trade deal with Peru was a high priority for the Harper government. It should also be noted that the a parallel agreement took force on August 1 on labor cooperation and the environment. The pact commits Canada and Peru to international labour standards such as elimination of child and forced labor. The Peru free-trade deal’s passage was tied, in some measure, to this parallel agreement to ensure human rights protection.
We look forward to even more progress on these issues at the upcoming summit.
