The Foreign Ministers of the Mercosur Member States, namely: Jorge Marcelo Faurie, the Argentine Minister of Foreign Affairs and Worship; Aloysio Nunes Ferreira, the Brazilian Foreign Minister; Eladio Loizaga, the Paraguayan Foreign Minister, and Rodolfo Nin Novoa, the Uruguayan Foreign Minister, alongside the Brazilian Minister of Industry, Trade and Services, Marcos Jorge, held a meeting with Canada's Minister of International Trade, François-Philippe Champagne, on 9 March 2018 in Asunción.
At the end of the meeting, the Ministers agreed to enter into negotiations on a Canada-Mercosur Comprehensive Trade Agreement. This is a major step towards strengthening the relationship between the Mercosur Member States and Canada.
The Ministers underscored the opportunity that a comprehensive, inclusive and commercially meaningful Comprehensive Trade Agreement presents for the mutual benefit of Canada and Mercosur.
Strengthening ties through enhanced trade and investment flows is a major step towards a shared interest in sustainable prosperity and a shared commitment to trade liberalization and open markets.
The Ministers recognized the importance of advancing this initiative in an inclusive manner. Mercosur and Canada will seek to negotiate issues such as market access for goods and services, labour, the environment, trade and gender, micro, small and medium-sized enterprises, among others. Integrating these elements will reinforce a collective commitment to lasting economic growth and development for all.
The Ministers undertook a commitment to pursue negotiations of a Trade Agreement in order to bring opportunities to the people of Canada and Mercosur without delay, and have instructed experts to hold the first round of negotiations in Ottawa, Canada, from 20 to 23 March 2018.
"Canada is a major economy in the world with a thriving trade volume, and thus for Mercosur it is a potential partner —an attractive country with which we want to seek common ground and forge a bond that will have to be creative in some areas, because we are both efficient producers in similar industries," Faurie stated.
"We have the possibility of accessing capital equipment that is essential to the development of our economy, so we will have to reach a balanced agreement," he further stated.
Finally, the Argentine Foreign Minister underscored that by entering into negotiations "we are showing initiative and dynamism in the search for external bonds, which are necessary for Mercosur to efficiently participate in global trade."
Press release No. 086/18
