Canada–Colombia Free Trade Agreement

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The Canada–Colombia Free Trade Agreement is a trade agreement between the countries of Canada and Colombia.

In August 2002, it was announced that Canada and the Andean Community of NationsBolivia, Colombia, Ecuador, and Peru—had agreed to begin preliminary discussions towards a free trade agreement (FTA). Given that not all Andean Community countries were in a position to move forward on FTA negotiations at the same time, Canada worked toward FTAs with Colombia and Peru only as announced in June 2007. The agreement with Colombia was implemented on August 15, 2011.[1]

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. In 2010 two-way merchandise trade between Canada and Colombia totalled more than $1.4 billion.

Canadian merchandise exports to Colombia totalled $644 million in 2010; major exports include goods such as cereals (wheat, barley), machinery, vegetables (pulses such as lentils, peas, chickpeas), paper and paperboard, and vehicles. Canadian merchandise imports from Colombia totalled $717 million in 2010. Major imports consist of mineral fuels and oils, coffee, fruits, and sugar. As of 2010, the accumulated value of Canadian investment in Colombia was $824 million. This investment is primarily in the oil and gas and mining sectors, although important links also exist in the printing sector.

Exports of Canadian provinces to Colombia ($CAD)
Imports of Canadian provinces from Colombia ($CAD)

Overall commerce of FTAs[edit]

According to Statistics Canada, this is the 2010 trade balance Canada had with other countries: [2]

Country Trade Type Amount (Thousands $CAD)
United States Total Exports $299,068,444
Total Imports $203,384,161
Trade Balance $95,684,283
Jordan Total Exports $66,038
Total Imports $19,923
Trade Balance $46,115
Panama Total Exports $129,501
Total Imports $84,207
Trade Balance $45,294
Colombia Total Exports $644,372
Total Imports $717,267
Trade Balance -$72,895
Israel Total Exports $399,267
Total Imports $1,006,200
Trade Balance -$606,933
Chile Total Exports $587,462
Total Imports -$1,284,843
Trade Balance $479,022
Peru Total Exports $3,648,783
Total Imports $3,648,783
Trade Balance -$3,169,761
European Union Total Exports $34,557,048
Total Imports $47,901,364
Trade Balance -$13,344,316
Mexico Total Exports $5,008,167
Total Imports $22,109,148
Trade Balance -$17,100,981

References[edit]

  1. ^ "Canada – Colombia FTA". Foreign Affairs and International Trade Canada. 2011-08-16. Retrieved 2012-01-04. 
  2. ^ "Trade By Product (HS Codes)".