Foreign Affairs and International Trade Canada
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Canada - Colombia Free Trade Agreement
On March 26, 2009, the Government of Canada introduced legislation to implement the Canada-Colombia Free Trade, Labour Cooperation and Environment Agreements in the House of Commons. Once this legislation is passed and it receives Royal Assent from the Queen’s Representative, the Governor General, the Government of Canada will be in a position to implement these Agreements at an agreed upon date with the Government of Colombia.
On November 21, 2008, the Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, signed, on behalf of Canada, the Canada-Colombia Free Trade Agreement (FTA). This was the third FTA signed by Canada in 2008 and Canada’s sixth FTA with a country in the Americas.
At the same ceremony, Agreements on Labour Cooperation and the Environment (pdf 42kb) , as well as a Double Taxation Convention were also signed between Canada and the Republic of Colombia. Prime Minister Stephen Harper and the President of Colombia, Alvaro Uribe, witnessed the signing of the agreements.
- Final Environment Assessment of the Canada-Colombia and Canada-Peru Free Trade Agreement (FTA) Negotiations
- Minister Day Introduces Legislation to Implement Colombia and Peru Free Trade Agreements
News Release – March 26, 2008 - Canada Signs Free Trade, Labour Cooperation and Environment Agreements with Colombia
News Release – November 21, 2008 - Text of the Free Trade Agreement
- Photo Gallery
- FTAs with Colombia and Peru Video - September 4, 2008
Colombia is a dynamic emerging market with 44 million people and an economy with high growth potential. An increasing number of Canadian investors and exporters is entering the Colombian market. In 2008, two-way merchandise trade between Canada and Colombia totalled more than $1.3 billion, with hundreds of Canadian companies doing business with Colombia. Colombia is also a strategic destination for Canadian direct investment (mining, oil exploration, printing and education).
Once implemented, the FTA with Colombia will stimulate the growth of our commercial relationship and help level the playing field for Canadian business vis-à-vis competitors who have or are seeking preferential market access in Colombia.
The FTA will also promote a more stable and predictable investment environment in Colombia.
In August, 2002, thenMinister of International Trade announced that Canada and the Andean Community had agreed to begin exploratory discussions towards a proposed FTA. As part of the exploratory discussions, the Minister launched extensive domestic consultations with business, citizen-based organizations and individual Canadians, as well as with the provincial and territorial governments, to obtain advice and views on priorities, objectives and concerns to help define the possible scope of this initiative. (For more information, see the Canada Gazette Notice – December 20, 2002). Consultations indicated broad support for an FTA.
Guided by the government’s commitment to pursue more bilateral free trade agreements, along with the Prime Minister’s pledge to enhanced engagement throughout the Americas, the government has pursued an FTA with Colombia to further deepen its trade and investment relations.
On June 7, 2007, The Honourable David Emerson, Minister of International Trade, announced the launch of free trade negotiations between Canada and Colombia and Peru. The Canada-Peru FTA was signed in May 2008. The Canada-Colombia FTA was signed in November 2008.
Canada and Colombia enjoy good commercial and investment relations as the presence of Canadian companies, particularly in the mining, oil exploration and printing sectors, continues to grow.
In 2008, two-way merchandise trade between Canada and Colombia totalled more than $1.3 billion.
Canadian merchandise exports to Colombia totalled $703.8 million in 2008; major exports include agricultural goods such as wheat, barley and lentils, as well industrial products, paper products and heavy machinery.
Canadian merchandise imports from Colombia totalled $643.7 million in 2008). Major imports consist of coffee, bananas, coal, oil, sugar and flowers.
As of 2007, the accumulated value of Canadian investment in Colombia was $739 million. This investment is primarily in the oil and gas and mining sectors, although important links also exist in the printing sector.
- An FTA with the Andean Community countries of Colombia and Peru: Qualitative Economic Analysis - June 2007
(html | pdf 206kb) - Initial Environmental Assessment Report – Canada-Andean Community Free Trade Negotiations - January 2008
(html | pdf 267 kb)
If you have questions or comments about this initiative we would like to hear from you. Please contact Foreign Affairs and International Trade Canada at:
Regional Trade Policy Division - Americas (TBL)
Foreign Affairs & International Trade Canada
Lester B. Pearson Building
125 promenade Sussex Drive
Ottawa, Ontario, K1A 0G2
Fax: 613-944-3489
E-mail : consultations@international.gc.ca
