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Consultations on a Potential Free Trade Agreement with MERCOSUR

: General

Global Affairs Canada Seeking Views on Restarting Free Trade Negotiations with South America's MERCOSUR Trading Bloc 2017-05-03

The Government of Canada is seeking the views of the Canadian public and interested Canadian stakeholders on the scope of potential negotiations regarding a possible Free Trade Agreement (FTA) between Canada and MERCOSUR (Argentina, Brazil, Paraguay and Uruguay).
During his trip to Argentina in November 2016, Prime Minister Trudeau committed to maintaining an ongoing dialogue on deepening the Canada–MERCOSUR trade and investment relationship. In recent months, Canada and MERCOSUR have sought to reassess the potential for an economically significant and mutually beneficial FTA.
MERCOSUR represents a significant economic presence in Latin America. In 2016, the four members of MERCOSUR had a combined GDP of US$2.4 trillion (CAN$3.2 trillion) and a population of 260 million.
In 2016, Canada’s bilateral merchandise trade with the bloc totaled nearly $8.1 billion. Canadian direct investment abroad in the bloc was valued at $14.7 billion and the bloc’s total inward foreign direct investment stock is valued at $19.7 billion. Two-way services trade between Canada and MERCOSUR’s Argentina and Brazil nearly reached $1.3 billion in 2015.
A potential free trade agreement with MERCOSUR could result in economic gains for Canadians, including importers and exporters of goods and services, investors and consumers, by improving bilateral market access and enhancing transparency and predictability of trade and investment for Canadian businesses.
More information on the Government’s consultations on a potential Canada–MERCOSUR Free Trade Agreement can be found at Global Affairs Canada: Consulting Canadians on a Possible Canada–MERCOSUR Free Trade.
All interested parties are invited to submit their views by May 29, 2017. For additional information on how to submit your views, click on How do I participate?
Also see the related article in CBC News.

Source: CBC, Global Affairs Canada, Canada Gazette


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