Minister Van Loan in Spain Promoting Canada’s Economic Advantage

Economic and trade agreement between Canada and the European Union would strengthen Canada ’s relationship with Spain

(No. 154 - May 6, 2010 - noon ET) The Honourable Peter Van Loan, Minister of International Trade, today promoted Canada’s negotiations toward freer trade with the European Union and emphasized Canada’s competitive advantages at a conference in Madrid.

 Minister Peter Van Loan had the chance to discuss Canada-Spain commercial relations with relevant players of Spain’s economic scene. From left to right: Mr. Jesús Banegas, International Vice-President of the Spanish Confederation of Business Organizations, Minister Van Loan and Mr. Alfredo Bonet, Secretary General of Commerce at the Ministry of Industry, Tourism and Commerce.
Minister Peter Van Loan had the chance to discuss Canada-Spain commercial relations with relevant players of Spain’s economic scene. From left to right: Mr. Jesús Banegas, International Vice-President of the Spanish Confederation of Business Organizations, Minister Van Loan and Mr. Alfredo Bonet, Secretary General of Commerce at the Ministry of Industry, Tourism and Commerce.

“The world is quickly discovering the benefits of doing business with Canada,” said Minister Van Loan. “Canada’s designation as the top destination for Spanish investors by the Spanish Exporters and Investors Club is one example of that.”

Minister Van Loan delivered the remarks to more than 120 business leaders and investors at a breakfast conference organized by the Canada-Spain Chamber of Commerce in collaboration with the Spanish Confederation of Employers’ Organizations (CEOE).

Earlier today Minister Van Loan also met with Juan Ignacio Entrecanales, Vice-Chairman of the Board of Acciona, a leading-edge Spanish corporation with significant and expanding business interests in Canada. During the meeting, the Minister discussed the competitive advantages that make Canada a first-class destination for investment, including:

  • the lowest taxes on new business investment in the G7;
  • the lowest debt-to-gross-domestic-product ratio in the G7;
  • the highest predicted economic growth in the G7 for 2010, 2011 and 2012, according to the International Monetary Fund;
  • the world’s soundest banking system, according to the World Economic Forum; and
  • a high quality of life.

“Since 2006, a range of investment projects have been initiated between Canada and Spain,” said Minister Van Loan. “The recent creation of a Canada-Spain Chamber of Commerce reflects the growing ties between our two countries.”

Canada and Spain enjoy a strong commercial relationship based on trade as well as research and development partnerships. A comprehensive economic and trade agreement (CETA) between Canada and the European Union would enhance this relationship, open doors for business and help create jobs. In fact, Spain has identified the CETA negotiations as a priority during its European Union presidency in the first half of 2010.

For more details on Minister Van Loan’s visit, consult Official visit to Europe.

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For further information, media representatives may contact:

Monika Bujalska
Press Secretary
Office of the Honourable Peter Van Loan
Minister of International Trade
613-992-9304

Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000