Loading ...Canada Hopes to Build Ties with Arab Countries
Canada is reaching out to Arab countries to build trade and diplomatic ties.
Speaking to the Canada-Arab Business Council in Ottawa Wednesday night, International Trade Minister Peter Van Loan said big oil and gas companies, infrastructure firms and the education sector have made significant inroads in the region. But franchises like Second Cup and La Vie en Rose are also taking hold — and Canada is pushing for an even greater business presence.
“Canada is demonstrating its keen interest in improving and deepening our partnerships in the Arab world,” he said.
Politics, security, trade and investment are all intertwined in the region and countries must work together at all levels to build relationships, he added.
Van Loan said Canada is now in free trade talks with Morocco and negotiations with Tunisia toward a foreign investment promotion agreement. Discussions with Saudi Arabia, the United Arab Emirates and Qatar are underway to strengthen business ties.
Two-way merchandise trade between Canada and the Middle East-North Africa region was an estimated $12.8 billion last year.
Earlier in the day, Van Loan tabled legislation for a free-trade agreement with Jordan that would lift tariffs on most exports and give Canadian sectors such as manufacturing, forestry and agriculture a “leg up” on the competition in Jordan.
“The Canada-Jordan Free Trade Agreement, once implemented, will open doors to this growing economy and give Canadian businesses a real advantage in the broader Middle East and North African markets,” he said.
Kathleen Harris
The Toronto Sun