During a two-day visit to Canada, Germany’s Chancellor Angela Merkel held talks with Canadian Prime Minister Stephen Harper, with the discussions focussing on the ongoing crisis in the eurozone as well as on the planned free trade agreement between Canada and the European Union (EU).

According to the German government, the aim of Chancellor Merkel’s visit was to strengthen political ties between the two countries, to enhance trade relations, and to further develop scientific relations.

During her visit to Ottawa, Chancellor Merkel underlined the need for a swift conclusion to the planned free trade agreement (FTA) between Canada and the EU, emphasizing her determination to ensure that the three years of ongoing negotiations are finally brought to a rapid conclusion.

Both sides are convinced that free trade is one of the best motors for growth, the German government said, explaining that there was still a need for clarification, notably as regards the protection of intellectual property and in the services sector.

The German government highlighted the importance of extending cooperation in the area of raw materials, and of intensifying collaboration as regards renewable energy, noting that German businesses are eager to extend exports in the area of renewable energy and energy efficiency in future.

Commenting on the “ambitious” FTA, Merkel insisted that the EU agreement with Canada will be one of the widest ranging FTAs that the EU has ever concluded, from the recognition of professional qualifications, to regulatory cooperation and to a planned reduction of customs duties. Although there are several issues to work on, “we are optimistic”, Merkel stressed.

Bilateral economic relations with Canada are close and developing dynamically. In 2011, German exports to Canada rose by 14% to EUR7.8bn (USD9.6bn). Canadian exports rose 27% in 2011 to EUR5.3bn.

On the issue of the eurozone crisis, Chancellor Merkel praised the path pursued by Canada, noting that a course of strict budgetary discipline together with a growth course have enabled the country to successfully exit the financial crisis.

Canadian Prime Minister Harper praised the commitment of the German Chancellor in the euro crisis, in particular her firm determination to find good and sustainable solutions. Canada and Germany are reliable friends in an uncertain world, Harper added.

August 21, 2012

Source: Tax News

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