Harper government committed to strengthening economic ties with Brazil
(No. 182 - June 26, 2011 - 11:00 a.m. ET) The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, is leading a trade mission to Brazil of 19 Canadian companies that want to explore business opportunities in one of the world’s fastest-growing economies. The Minister will travel to Rio de Janeiro, Brasília and São Paolo from June 26 to 30 to further develop Canada and Brazil’s dynamic, wide-ranging and multi-faceted commercial relationship.
“Our government continues to focus on strengthening economic growth and creating jobs for Canadians,” said Minister Fast. “Given Canada’s world-class position in construction, transportation and infrastructure development, Brazil presents great potential for Canadian workers, companies and investors to maintain and create jobs and protect the financial security of hardworking Canadians and their families.”
The companies participating in the trade mission will showcase Canada’s strengths and capabilities in infrastructure projects and services. These sectors have been identified as high-potential opportunities as Brazil prepares to host the 2014 FIFA (Fédération Internationale de Football Association) World Cup soccer tournament and the 2016 Olympic and Paralympic Games, and as it undertakes an infrastructure development initiative worth US$805 billion called the Accelerated Growth Program.
“Trade missions are an integral part of the government’s efforts to increase trade and create jobs and growth for Canadians across Canada,” said Minister Fast. “They open doors to global markets and highlight opportunities for Canadian workers and companies.”
“Canadians understand that trade is, fundamentally, a ‘kitchen table’ issue—preserving jobs, and helping people put food on the table and provide for their families,” said Minister Fast. “Increasing trade, which represents some 60 percent of our economy, is key to job creation, increased prosperity and protecting the financial security of hardworking Canadians and their families.”
Brazil’s economy, which is the largest in Latin America, was estimated as the seventh-largest globally in 2010. Canada-Brazil bilateral merchandise trade was $5.9 billion in 2010. Brazil was the eighth-largest source of foreign direct investment in Canada in 2010, with a stock of $13.5 billion invested. That same year, Brazil was the 11th-largest recipient of Canadian direct investment abroad, with a stock of $9.7 billion invested.
For more information on the Minister’s visit, please visit Minister Fast Visits Paraguay and Brazil.
- 30 -
For further information, media representatives may contact:
Director of Communications and Tour
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
Trade Media Relations Office
Foreign Affairs and International Trade Canada
Follow us on Twitter