MercoPress. South Atlantic News Agency

Canada satisfied with first contacts for trade agreement with Mercosur

International Trade Minister Peter Van Loan

Canada is “satisfied” with contacts held with the Argentine government for the possible beginning of discussions regarding a free trade agreement with Mercosur, said Canadian International Trade minister Peter Van Loan said at the end of a tour of four Latin American countries

“These exchanges should improve bilateral relations as well as links between Canada and our Latinamerican partners” said Van Loan who last week visited Costa Rica, Colombia, Chile and Argentina during a five day tour to promote trade agreements with the region.

Following the meeting in Buenos Aires with the ministers of Federal Planning and International Trade “we are in the initial exploratory stage to see if there is a potential for discussions with Mercosur regarding a free trade agreement”, said Van Loan.

“We are satisfied with these first steps in that direction” said the Canadian minister in Ottawa.

In Costa Rica Van Loan agreed the “upgrading and updating” of the bilateral free trade agreements expanding it to areas not yet covered by its current version.

“The expansion to market access in such areas as financial services, government contracts should create opportunities and benefits for Canadian corporations and jobs”, added Van Loan.

Canada also has a double successful experience regarding Chile. The South American country has trade agreements with Nafta, (North America Free Trade Agreement) and with each of its members, Canada, United States and Mexico.