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.

Quick Facts

  • 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.

Quotes

“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

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Contacts

Shannon Gutoskie
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
613-992-7332

Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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