Goal 1: Increasing mutual economic opportunity

Latin America and the Caribbean is an economically dynamic region that has experienced significant economic growth in the last decade. Increasing commercial and investment ties with the region is supporting and enhancing prosperity and sustainable growth in the Americas.  Sustainable investment and trade are creating opportunities to improve people’s lives.

Our objectives:

To build on momentum towards our goal of increasing economic opportunities, Canada is:

  • Strengthening trade and investment especially with Brazil and our Free Trade Agreement partners (Chile, Colombia, Costa Rica, Mexico, Panama and Peru);
  • Expanding and promoting our network of trade and economic agreements;
  • Encouraging opportunities for Canadian participation in public-private partnerships and with international and regional banks;
  • Leveraging Canada’s development assistance to advance sustainable economic growth; and,
  • Sharing Canadian expertise towards supporting responsible and sustainable natural resource management.

Our investments:

Since Prime Minister Harper announced in 2007 that the Americas would be a top foreign policy priority, the economic relationship between Canada and the region has steadily grown stronger and our engagement has deepened. Canada has concluded or brought into force more free trade agreements (FTAs) with countries in the Americas than anywhere else in the world (seven out of twelve), with the most recent agreement in the Americas – the Canada-Honduras FTA – having been signed on November 5, 2013.

Between 2007 and 2013, total trade between Canada and Latin America and the Caribbean increased by 34%. Canada has signed new or expanded bilateral Air Transport Agreements with 18 partners in the region since 2006, when Canada's Blue Sky Policy was introduced. Canada now has air transport agreements with 33 countries in the Americas.

Achieving results:

Our increased focus has yielded strong results.  We have:

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