Minister Fast Marks Conclusion of Latest Round of Trade in Services Negotiations
Services a priority sector under Canada’s Global Markets Action Plan to create jobs and opportunities for workers and businesses
February 24, 2014 - Geneva, Switzerland - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today marked the conclusion of the latest round of negotiations for a trade in services agreement (TISA). The round took place in Geneva, Switzerland, from February 17 to 24, 2014.
A TISA would provide increased access as well as predictability and transparency for Canadian services companies. Service providers active in such diverse services fields as telecommunications, finance, computing and information technology, retail distribution, transportation, environment, express delivery, energy, accounting, law, architecture and engineering will greatly benefit from a TISA.
There are 23 WTO member economies currently participating in the negotiations: Australia, Canada, Chile, Chinese Taipei, Colombia, Costa Rica, the European Union, Hong Kong (China), Iceland, Israel, Japan, Liechtenstein, Mexico, New Zealand, Norway, Pakistan, Panama, Paraguay, Peru, South Korea, Switzerland, Turkey and the United States. In late 2013, China and Uruguay formally expressed their interest in joining the negotiations.
- Canada is one of the world’s largest exporters of services, and the services sector sustains nearly four in five Canadian jobs, employing more than 13 million workers.
- In 2012, Canada exported almost $83-billion worth of services. Canada is the world’s fourth-largest exporter of engineering services and a significant exporter of services in several other sectors, including mining, finance and information technology.
“Today, with one in five Canadian jobs dependent on exports, our prosperity hinges on opening new markets for Canadian goods, services and investment. Under the recently launched Global Markets Action Plan, we are focusing our efforts on the markets and sectors that hold the greatest promise for Canadian business. This includes professional and financial services. A next-generation plurilateral trade in services agreement with key WTO members will greatly benefit our services providers here in Canada.”
- Ed Fast, Minister of International Trade
- Trade in Services Agreement (TISA)
- Global Markets Action Plan: The Blueprint for Creating Jobs and Opportunities for Canadians Through Trade
- Opening New Markets: Trade Negotiations and Agreements
Office of the Honourable Ed Fast
Minister of International Trade
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