May 17, 2015 - Vancouver, British Columbia - Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today highlighted a recent announcement by Prime Minister Stephen Harper on providing Canadians with safe, reliable and low-cost services to transfer money to family and friends outside of the country, helping to improve economic conditions abroad.
These transfers, known as remittances, represent a major source of income for millions of people around the world, and support a sustainable path out of poverty for the poorest and most vulnerable.
To help reduce the costs of remittances services, Canada’s Economic Action Plan 2015 will invest $6 million over five years to introduce measures that will help enhance access to low-cost remittance services for Canadians.
Minister Fast highlighted the benefits of the new services at an event at St. Mary’s Parish church in Vancouver, which has a large Filipino congregation. The Philippines is one of the top destinations for remittances from Canada.
During his recent historic state visit to Canada, the president of the Philippines, Benigno Aquino III, and Prime Minister Harper reaffirmed long-standing and positive bilateral relations based on shared democratic values and a mutual interest in expanding trade and commercial relations, including through the launch of exploratory discussions on a free trade agreement.
Minister Fast will be in the Philippines later this month to attend the APEC Ministers Responsible for Trade meeting and to kick off a multi-sector, five-day trade mission to Manila and Cebu, to be led by Minister of State (Foreign Affairs and Consular) Lynne Yelich, from May 24 to 28, 2015. Minister Yelich will be joined on the mission by Senator Tobias Enverga Jr.
Max Moncaster
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
343-203-7332
Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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