
On Friday Canadian PM Stephen Harper signed a tentative free-trade deal with Colombia that will be submitted to parliament for approval. Upon signing the agreement, PM Harper stated:
By expanding our trading relationship with Colombia, we are not only opening up new opportunities for Canadian businesses in a foreign market, we are also helping one of South America’s most historic democracies improve the human rights and security situation in their country.
The agreement will lift tariffs on many of Canada’s exports to Colombia and both Canada and Colombia will work to help professional bodies in both nations accept the certifications of one another – ‘especially in engineering.’
This comes just before Haper plans to attend the Asia-Pacific Economic Cooperation summit in Peru, where he will be working to push increased free-trade and economic cooperation and interdependence as a means to pull out of the current global economic crisis. This is truly an amazing step towards regional free and interconnected trade in the Americas.
Canada’s economy and banking sectors are currently one the of the strongest in the world, weathering the global economic and financial crisis far better than the remainder of the world; Including the US and Europe.
With the shift away from international trade among US lawmakers, Canada has stepped up to take the lead on trade and economic cooperation in the Americas. With US lawmakers and groups arguing against trade and presenting misconceptions of the practice to the US populous, it is no surprise that Canada was happy to step-in and lead the region towards a positive economic future.
In recent months Canada also signed an amazing and historic free-trade agreement with both Peru and Singapore. The country currently holds agreements with Mexico, Costa Rica, Chile and others; they are also pursuing possibilities with other Central/South American and Caribbean nations. The Americas and Asia-Pacific regions need free-trade. Trade benefits us all and it is excellent to see Canada stepping forward to lead the way.
In another feat, Canada placed seventh in the recently released Economic Freedom of the World Report conducted jointly by the Cato Institute and the Frasier Institute. Canada has now statistically surpassed the US in economic freedom! The US sits – tied with Australia – in eighth place, yes.. eighth place. On top of the overall list is Hong Kong, followed by Singapore and New Zealand; Switzerland, the UK, and Chile also topped the US. Canada now sits among a group of amazing economic leaders and is a continually rising star in global economics.
As if that’s not enough, the World Economic Forum’s The Global Competitiveness Report 2008-2009 has ranked Canada number one in the category of soundness in banking. In another arena Canada is taking the lead and the title.
Now that’s a Canada we can believe in!