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Reinforcing Trade and Investment Ties Across the Americas at Pacific Alliance Ministerial Meeting
May 22, 2013 - Cali, Colombia - The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, meets with Ildefonso Guajardo Villarreal, Mexico’s Secretary of Economy, at the Pacific Alliance meeting of trade ministers in Cali, Colombia. The two met on the margins of the meeting to discuss the strong trade and investment ties between Canada and Mexico. They also talked about ways to deepen these ties throughout the Americas and in the Pacific region. Mexico is a founding member of the Pacific Alliance, and Canada and Mexico are both members of the Trans-Pacific Partnership. The two multilateral groups aim to further enhance trade and investment ties between their members. They also discussed the integrated nature of the North American agriculture supply chain, the U.S. mandatory country-of-origin labelling (COOL) provisions and Canada’s and Mexico’s respective strategies and strong partnership on the World Trade Organization COOL panel. Minister Fast said that he looks forward to welcoming Secretary Guajardo at the next NAFTA Free Trade Commission ministerial meeting, which is scheduled to be held in Canada.
With their economies strengthened by NAFTA, Canada and Mexico are now among each other’s largest trade and investment partners. The value of bilateral merchandise trade has grown almost sevenfold since NAFTA took effect in 1994, surpassing $30 billion in 2012.
Canada obtained observer status in the Pacific Alliance in October 2012, the first non-Latin American country to be granted this status. Canada already has comprehensive bilateral free trade agreements with each of the four Pacific Alliance member countries: Chile, Colombia, Mexico and Peru. Canada’s total merchandise trade with the countries of the Pacific Alliance has more than doubled since 2000, increasing from $16.1 billion in 2000 to nearly $39 billion in 2012.
For further information, media representatives may contact:
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
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