Minister Fast Concludes Third Successful Trade Mission to Africa
Opening new markets to boost Canadian exports is key to creating jobs and opportunities for hard-working Canadians in every region of the country
June 27, 2014 - Dar es Salaam, Tanzania - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today concluded his 10-day, four-country trade mission to Africa. In Burkina Faso, Madagascar, South Africa and Tanzania—priority markets under the government’s Global Markets Action Plan—Minister Fast advocated for deeper trade and investment ties with Canada.
In Burkina Faso, where Canada is the country’s largest investor, Minister Fast congratulated Windiga Energy Inc. of Montréal on signing a $50-million contract. This announcement comes as Canada and Burkina Faso recently concluded negotiations on a foreign investment promotion and protection agreement (FIPA).
In Madagascar, on the first visit there by a Canadian minister since 2009, Minister Fast welcomed the commitment to move toward the signing and ratification of the Canada-Madagascar FIPA. Canada and Madagascar are also in negotiations toward a double taxation agreement.
During his inaugural visit to South Africa, Minister Fast highlighted Canada’s commitment to deepening commercial ties with the announcement of a new Export Development Canada office and the relaunch of the Canada-South Africa Chamber of Business. EDC and the Chamber will support connecting more Canadian businesses, particularly small and medium-sized enterprises, to the growing supply chains in intra-African trade. South Africa is the second-largest destination for Canadian exports in Africa.
The final leg of the trade mission was in Tanzania, where Minister Fast highlighted the Canada-Tanzania FIPA, which was brought into force in December 2013. Canada is the third-largest investor in Tanzania.
Minister Fast’s trade mission was composed of 26 delegates from 19 businesses and organizations focused on the infrastructure, renewable energy and extractive sectors—sectors that hold tremendous opportunities for collaboration between Canadian and sub-Saharan African companies.
- The International Monetary Fund expects the sub-Saharan African economy to grow by 5.4 percent in 2014 and by 5.5 percent in 2015.
- Canada’s bilateral trade with continental Africa was $13.3 billion in 2013.
- In sub-Saharan Africa, Canada has foreign investment promotion and protection agreements in force with Benin and Tanzania and has concluded negotiations with Burkina Faso, Cameroon, Côte d’Ivoire, Guinea, Madagascar, Mali, Nigeria, Senegal and Zambia. FIPA negotiations are ongoing with Ghana and Kenya.
- Minister Fast has previously led trade missions in Africa to Libya, Nigeria and Ghana.
“We are committed to opening new markets for our exporters and ensuring that Canadian companies take advantage of the opportunities the most ambitious pro-trade plan is creating for them. Sector-focused trade missions are one of the tools available for Canadian companies to boost their exports, expand and grow. When our companies succeed in global markets, they create jobs at home.”- Ed Fast, Minister of International Trade
- Backgrounder - Testimonials
- Minister Fast Leads Trade Mission to Africa
- Minister Fast Concludes Successful Visit to Burkina Faso
- Minister Fast Announces New Investment Agreement with Burkina Faso
- Canada Announces New Support to Women Entrepreneurs in Burkina Faso
- Minister Fast Concludes First Visit to Madagascar
- Minister Fast Inaugurates Peacekeeping Training Centre in Tanzania
- Canada Announces New Support to Enhance Sustainable Economic Growth and Development in Tanzania
- Minister Fast Celebrates 20 Years of Trade Commissioner Service in South Africa
- Canadian Renewable Energy Expertise Meeting the Needs of South Africans
- Minister Fast Meets with Canadian Delegates Joining Him on Trade Mission to Africa
- Minister Fast Visits Companies Financed Through Développement international Desjardins in Burkina Faso
- Minister Fast Attends Opening of CIM Office in Burkina Faso
- Minister Fast Congratulates Windiga on $50-Million Contract Win in Burkina Faso
- Global Markets Action Plan
Office of the Honourable Ed Fast
Minister of International Trade
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