International Trade Minister continues to push for trade and investment during trips to Chile and Mexico
News Release
March 13, 2017 - Ottawa, Ontario - Global Affairs Canada
The Government of Canada is committed to increasing trade and investment with Latin America and to pursuing collaborative efforts to create export opportunities that will benefit small and medium-sized enterprises and create good jobs for the middle class.
The Honourable François-Philippe Champagne, Minister of International Trade, will visit Chile and Mexico to promote international trade and investment that support the growth of the middle class. He will be in Chile from March 13 to 15 and in Mexico on March 16 and 17.
While in Chile, Minister Champagne will meet with a number of government and business leaders, including Heraldo Muňoz, Chile’s Minister of Foreign Affairs, to discuss how best to advance regional economic integration and open and progressive trade among the Asia-Pacific economies. He will also mark the 20th anniversary this year of the Canada-Chile Free Trade Agreement and highlight Canada’s close and ongoing collaboration with Chile on trade, investment, defence, energy, mining and education, as well as on science, technology and innovation. This collaborative work will continue to benefit both Canadian and Chilean families by helping to grow the economy, clean the environment, protect health and safeguard communities in both countries.
On March 15, Minister Champagne will represent Canada at the High-Level Dialogue on Integration Initiatives in Asia Pacific, which is being hosted by the Government of Chile as the president pro tempore of the Pacific Alliance, a regional integration initiative created in 2011 that also includes Colombia, Mexico and Peru. As a Pacific nation, Canada will work to continue expanding opportunities for Canadian producers and workers throughout this high-growth region.
In Mexico City, on March 16, Minister Champagne will meet with Ildefonso Guajardo Villarreal, Mexico’s Secretary of Economy. He will also address the Canadian Chamber of Commerce (CanCham) and hold bilateral meetings with Canadian investors in the extractive sector and with representatives of Mexican companies. In Monterrey, on March 17, he will meet Jaime Rodriguez Calderón, Governor of Nuevo León, deliver remarks at CanCham Monterrey, participate in a round table with woman entrepreneurs and hold several bilateral meetings with representatives of Canadian and Mexican companies.
Quotes
“Canada welcomes Chile’s efforts to bring together like-minded countries, at an important time for the global economy, to talk about how to address the challenges of globalization and protectionism.
“Trade between Mexico and Canada has been growing from strength to strength, and I look forward to building and expanding on that strong foundation for both of our middle classes.”
- François-Philippe Champagne, Minister of International Trade
Quick Facts
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Merchandise trade between Canada and Chile has more than tripled since the Canada-Chile Free Trade Agreement entered into force in 1997, reaching a value of $2.4 billion in 2016.
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At the end of 2015, the stock of Canadian direct investment in Chile stood at $15.1 billion, making Chile Canada’s top investment destination in South and Central America and 10th-ranking, worldwide.
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Merchandise trade between Canada and Mexico reached a value of $40.8 billion in 2016, a record high. It was up from $37.8 billion in 2015.
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At the end of 2015, the stock of Canadian direct investment in Mexico stood at $14.8 billion, an 8.3-percent increase from the year before.
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The Pacific Alliance is a regional integration initiative created in 2011 by Chile, Colombia, Mexico and Peru that seeks the free movement of goods, services, capital and people. Canada became the first non-Latin American observer to the Alliance in 2012.
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