NEWS RELEASE · 29th March 2010
M. of International Trade
The Honourable Peter Van Loan, Minister of International Trade, today said Canadians and Germans stand to gain from an economic partnership between Canada and the European Union. The Minister delivered the remarks at an event in Toronto to mark 100 years of Canada-Germany trade relations.
“I am proud to celebrate 100 years of trade relations with Germany,” said Minister Van Loan. “But I am prouder still that Canada and Germany are on the threshold of free trade as negotiations advance on a comprehensive economic and trade agreement with the European Union. This agreement would benefit Canadians and Germans alike.
“From trade and investment to science and technology, our commercial relationship with Germany is firing on all cylinders. Germany is the largest economy in the European Union and one of our largest trading partners in Europe. It is a key player in our efforts to expand trade, encourage growth and create jobs.
“Canada has an ambitious free trade agenda. An economic partnership with the 27-country European Union, one of the world’s largest economies, is an important part of that agenda.”
The trade negotiations have had two successful rounds. Three more negotiating rounds are planned during 2010, as progress continues toward an agreement.
Minister Van Loan made his remarks at an event organized by the Canadian German Chamber of Industry and Commerce at the University of Toronto. Guido Westerwelle, Germany’s Federal Minister for Foreign Affairs and Deputy Federal Chancellor, joined Minister Van Loan in delivering remarks at the event.
The volume of trade between Canada and Germany has grown consistently over the last decades. Canadian merchandise exports to Germany totalled $3.7 billion in 2009, making Germany Canada’s sixth-largest merchandise export market. Germany ranks fifth among Canada’s suppliers of merchandise imports, at $10.7 billion in 2009.