Canadian Government Launches Russian Trade Mission

Canada's Minister of International Trade is leading a trade mission to Russia, taking around 30 companies with him and holding bilateral meetings with key officials in an effort to promote trade ties.

The mission, led by Ed Fast, is taking place from June 4 - 8. He has taken with him representatives of companies selected by the Canadian Trade Commissioner Service from the building products and construction, aerospace, and mining sectors. Announcing the trip, Fast said: “Our government’s top priority is the economy—creating jobs, growth and long-term prosperity for hard-working Canadians and their families. That’s why we remain focused on developing and implementing prudent pro-trade, economic growth measures. As a growing economy, Russia is a priority market for Canada, and we are committed to growing the Canadian economy by helping Canadian workers succeed in this emerging market.”

Bilateral trade between Canada and Russia was worth CAD2.78bn last year. Russia has now emerged as one of Canada’s most important trading partners, with Canadian merchandise exports growing from CAD179m in 1999 to CAD1.5bn in 2011. The mission is Fast's latest to a “BRIC” country - Brazil, Russia, India and China - and completes his set. The Canadian government's approach to trade missions is to lead strategically focused, sector-specific missions to countries that offer the greatest potential for growth and success. The Canadian Trade Commissioner Service developed the mission itinerary to match Canadian capabilities with opportunities in Russia.

During his visit, Fast will take part in the Asia-Pacific Economic Co-operation (APEC) Ministers Responsible for Trade Meeting in Kazan. He is expected to highlight the Canadian government's strong commitment to supporting freer and more open trade. Fast will also make clear Canada's anti-protectionist stance, and state that protectionism is not conducive to global recovery efforts. The mission will conclude in Moscow, where bilateral meetings will be held with key Russian officials.

“This year, as we celebrate the 70th anniversary of Canada-Russia diplomatic relations, we are committed to deepening our trade and investment relationship with Russia. In what remains a fragile global economic climate, our government is committed to ensuring that Canadian workers have access to priority markets around the world. That is why we continue to pursue deeper ties with the world’s largest, most dynamic and fastest-growing markets as part of the most ambitious trade expansion plan in Canadian history,” Fast concluded.

June 5, 2012

Source: Tax News