NEWS RELEASES

February 7, 2005 (1:00 p.m. EST)
No. 25

CANADA AND MERCOSUR TO LAUNCH
TRADE AND INVESTMENT DIALOGUE

International Trade Minister Jim Peterson, together with current chairperson of Mercosur [Brazil, Argentina, Paraguay and Uruguay] and Paraguayan Foreign Affairs Minister Leila Rachid de Cowles, will launch a trade and investment dialogue in Ottawa today between Canada and Mercosur, in the context of the Free Trade Area of the Americas (FTAA).

“I believe that this initiative, which is firmly anchored in the FTAA, provides an excellent opportunity to expand on our strong partnership with Mercosur and deepen our commercial relations,” said Minister Peterson.

The two-day meeting in Ottawa is designed to build on the commitments that Prime Minister Paul Martin and Brazilian President Luiz Inácio Lula da Silva made last November. These include an agreement to pursue bilateral market access negotiations in goods, services and investment between Canada and Mercosur within the framework of the FTAA.

The FTAA, which builds on Canada’s existing free trade ties with the United States, Mexico, Chile and Costa Rica, holds the potential to create the world’s largest free trade area, with more than 845 million people and a combined gross domestic product of over $18.8 trillion. In addition to liberalizing trade in goods, the FTAA would secure improved market access commitments in the services sector and establish stronger investment protection measures throughout the Americas.

For more information on the FTAA, including the latest version of the draft agreement and details on Canada’s position and proposals, visit the following Web site: http://www.ftaa.gc.ca.

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For further information, media representatives may contact:

Jacqueline LaRocque
Director of Communications
Office of the Minister of International Trade
(613) 992-7332

Media Relations Office
International Trade Canada
(613) 995-1874
http://www.international.gc.ca