Broadening Canada-U.S. trade and investment key to economic recovery
(No. 30 - January 21, 2011 - 12:20 p.m. ET) The Honourable Peter Van Loan, Minister of International Trade, yesterday concluded a two-day visit to Washington, D.C. Minister Van Loan’s visit focused on broadening the Canada-U.S. trade partnership to drive economic recovery and create jobs on both sides of the border.
“The Canada-United States trade partnership is the most successful in the world,” said Minister Van Loan. “My visit to Washington this week focused on deepening that relationship to eliminate barriers to trade. At this time of economic uncertainty, more trade and investment are needed to create jobs and drive economic recovery.”
During his visit, Minister Van Loan met with members of the newly elected Congress, business representatives and trade experts. In these meetings, the Minister promoted Canada’s advantages as a business partner and stressed the importance of the North American Free Trade Agreement.
“As Canada and the United States focus on economic recovery, we must strengthen our commercial ties and build on the success of our free trade agreement,” said Minister Van Loan.
Even in the midst of the global economic crisis, $1.6 billion in trade crossed the Canada-U.S. border every day. The Buy American provisions of the American Recovery and Reinvestment Act, which limit foreign access to U.S. stimulus projects, threatened this partnership. In 2010, Canada negotiated a waiver to the Buy American provisions—the only country in the world to do so.
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For further information, media representatives may contact:
Office of the Honourable Peter Van Loan
Minister of International Trade
Trade Media Relations Office
Foreign Affairs and International Trade Canada