Description: The Honourable Diane Ablonczy, Minister of State of Foreign Affairs (Americas and Consular Affairs), on behalf of the Honourable Ed Fast, Minister of International Trade and Minister for the Pacific Gateway, announced that Canada has become an observer to the Pacific Alliance, a grouping of four of Latin America’s fastest-growing economies, Chile, Colombia, Mexico and Peru. The Minister made the announcement during a trade mission to Latin America.
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The Hon. Diane Ablonczy: The Pacific Alliance brings together a concerted coalition of likeminded trading partners all focussed on how best to take advantage of the continuing rise of Asian markets. Indeed, the formation of new trading blocs and partnerships holds great promise for all of our countries.
And that’s why, that we have chosen to announce here today, that Canada has been accepted as a Pacific Alliance observer. We very much look forward to a fruitful participation with this dynamic new group.
Canada already has free trade agreements with Chile, Colombia, Mexico and Peru – all the Pacific Alliance member countries – and with observer Costa Rica. We are also in the process of ratifying another free trade agreement with Panama, the other Pacific Alliance observer. Ladies and gentlemen we strongly believe that regional alliances like this one can create prosperity in the Americas and opportunity throughout the Pacific region.