Harper Government Introduces Legislation to Implement Free Trade Agreement with Honduras
January 28, 2014 - Ottawa, Ontario - Foreign Affairs, Trade and Development Canada
Today the government introduced the Canada-Honduras Economic Growth and Prosperity Act to implement the Canada-Honduras Free Trade Agreement as well as agreements on labour and environmental cooperation.
The Honourable Ed Fast, Minister of International Trade, and José Adonis Lavaire, Minister of Industry and Commerce for Honduras, signed the agreements in Ottawa on November 5, 2013.
Domestic debate and ratification processes will now take place in Canada and Honduras to bring the agreements into force.
Since 2006, Canada has concluded free trade agreements with nine countries: Colombia, Jordan, Panama, Peru, the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland) and Honduras. Most recently, Canada reached an agreement-in-principle with the 28-nation European Union, the largest and most lucrative market in the world.
- The Canada-Honduras Free Trade Agreement will provide increased market access for goods, with almost 98 percent of tariff lines being duty-free once the agreement is fully implemented.
- Key Canadian sectors that will benefit immediately from enhanced market access include beef, pork, potato products, vegetable oils and grain products, as well as a range of processed food products.
- The agreement will include enhanced provisions on cross-border trade in services, investment and government procurement.
- Canadian and Honduran economic ties are growing. The latest figures show 46-percent growth in merchandise trade between the two countries since 2007. In 2012, Canada exported $38.6-million worth of goods to Honduras.
“Our government understands that trade and investment are the twin engines of the global economy that lead to more growth, the creation of good jobs and greater prosperity. That’s why we continue to open new markets for our exporters around the world. In Latin America alone, Canada now has six free trade agreements in place, and these agreements with Honduras will further strengthen Canada’s economic relationships in the region.”
- Ed Fast, Minister of International Trade
- Minister Fast Signs Canada-Honduras Free Trade Agreement as Canada Secures Full Market Access for Beef and Pork
- PM Announces Conclusion of Free Trade Negotiations with Honduras
- Canada-Honduras Free Trade Agreement
Office of the Honourable Ed Fast
Minister of International Trade
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