ASSIGNMENT -1
TRADE AGREEMENT
CANADA
AND
THE REPUBLIC OF COLOMBIA
In August 2002, the Minister of International Trade announced that Canada and the Andean Community had agreed to begin exploratory discussions towards an FTA. As a part of the exploratory discussions, the Minister launched extensive domestic consultations with business, citizen-based organizations and individual Canadians, as well as with the provincial and territorial governments, to advice and obtain views on priorities, concerns and objectives to help define the possible scope of this initiative. The consultations indicated broad support for an FTA.
On June 7, 2007, the Minister of International Trade announced the launch of free trade negotiations between Canada and Colombia and Peru. The Canada-Peru FTA was signed in May 2008 and the Canada-Colombia FTA was signed in November 2008. Canada and Colombia enjoy good commercial and investment relations as the presence of Canadian companies, particularly in the mining, oil exploration and printing sectors, continues to grow.
The Stockwell Day, Minister of International Trade and The Minister for the Asia-Pacific Gateway, on November 21, 2008 signed, the Canada-Colombia Free Trade Agreement on behalf of Canada. It was the Canada’s 6th FTA and 3rd FTA signed by Canada in 2008 with Americas. At the same ceremony, Agreements on Labour Cooperation and the Environment, as well as a Double Taxation Convention were also signed. Prime Minister Stephen Harper and the President of Colombia, Alvaro Uribe, witnessed the signing of the agreements.
On June 30, 2010, the Honorable Peter Van Loan, Minister of International Trade, announced that Bill C-2, the implementing legislation for the Canada-Colombia FTA, the Labour Cooperation Agreement and the Agreement on the Environment had received Royal Assent.
The Canada-Colombia FTA, the Labour Cooperation Agreement and the Agreement on the Environment came into force on August 15, 2011.
