Tuesday, April 7, 2009

Canada Moves Forward on FTAs with Colombia, Peru

The Canadian government announced recently that legislation has been introduced to implement the free trade agreements Canada recently concluded with Colombia and Peru. Trade minister Stockwell Day said these FTAs will provide Canadian companies with “a competitive edge in many sectors, including wheat, paper products, mining, oil and gas, engineering and information technology.” The agreements also include “robust” side agreements on labor and environmental standards.

An FTA between the U.S. and Peru took effect Feb. 1 but a similar pact with Colombia has yet to pass Congress. Both the White House and key Democratic lawmakers have said they plan to establish benchmarks with respect to labor rights in Colombia that will have to be met before legislation to implement that FTA will be taken up. Minister Day indicated that Canada is taking a different approach, stating that “we believe that engagement, rather than isolation, is the best way to support positive change.”

To view the full article, visit WorldTrade\Interactive at http://www.strtrade.com/wti/wti.asp?pub=0&story=30702&date=4%2F6%2F2009&company=