Oct 20, 2010

#BDS: Canada, Israel to look at expanding free trade

Two-way merchandise trade has more than doubled since implementation of Free Trade Agreement between two countries, Canadian minister says during visit to Israel

Canadian Minister of International Trade Peter Van Loan visited Israel for two days last week with the purpose of promoting closer commercial ties, promoting trade, investment and innovation, and beginning negotiations to expand the Canada-Israel Free Trade Agreement (FTA).

“The Canada-Israel Free Trade Agreement has been tremendously beneficial for our two countries. Two-way merchandise trade has more than doubled since its implementation,” said Minister Van Loan.

“Canada’s ties to Israel are very deep, and our friendship is important. Our government is building on these ties and looking at opportunities to expand our trade relationship. We are committed to creating new sources of jobs, growth and prosperity for both of our countries in the years ahead.”

During the trip, Van Loan held a meeting with Israel’s Minister of Industry, Trade and Labour, Binyamin Ben Eliezer, in Tel Aviv. The purpose of the talk was to discuss ways to expand the FTA. The meeting concluded with an agreement that will see officials from both countries begin dialogue to “significantly expand (the FTA's) application.”

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