dailynewsnblog
June 19, 2024 – Ottawa, Ontario – Global Affairs Canada
The WTO plays a key role in strengthening economic ties around the world. It provides transparency and predictability for businesses, which creates jobs for the middle class.
The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, today welcomed the WTO Secretariat’s Trade Policy Review report on Canada’s international trade performance since 2019.
The report recognizes Canada’s continued efforts to improve its open and transparent trade approach, which highlights the vital role of international trade and global trade rules in maintaining Canada’s high living standards.
Since the results of the last WTO report in 2019, Canada brought 2 more free trade agreements (FTAs) into force: the Canada-United States-Mexico Agreement and the Canada-United Kingdom Trade Continuity Agreement. Canada also modernized the Canada-Ukraine Free Trade Agreement during the review period.
Canada now has 15 FTAs covering 51 countries and 1.5 billion consumers worldwide. These agreements support Canada’s goal to increase overseas exports by 50% by 2025. This will be accomplished by helping Canadian businesses of all sizes to better tap into markets abroad through initiatives like the Indo-Pacific Strategy.
The WTO report also highlights Canada’s leadership role in advancing WTO reform and support the organization’s contribution to environmental sustainability, women’s economic empowerment and the participation of micro-, small and medium-sized enterprises in global trade.
Canada will continue to work actively with all WTO members toward a more open, transparent, rules-based and inclusive multilateral trading system that works for all.
