Raising the profile of the Canadian business sector in Latin America and the Caribbean and generating an increased level of two-way trade and investment is one of Canada’s major foreign economic policy priorities, according to High Commissioner to Guyana Charles Court.
And according to Court, Canada is eager to complete discussions with regional negotiators towards the realization of a trade agreement to replace the incumbent CARIBCAN which expires in 2011.
Much of the focus of the current Canadian diplomatic effort in the region revolves around the aggressive promotion of trade and business ties with CARICOM and Court told Stabroek Business that the new Canadian International Development Agency (CIDA) initiative in the region will witness the expenditure of US$600m over a ten-year period aimed at, among other things, strengthening the regional private sector.
On Monday the Canadian High Commission in Georgetown hosted a 3 ½ hour seminar for local businesses titled “Doing Business With Canada” at which Court told the gathering of local businessmen that Canada will be a major investor in Guyana in the foreseeable future.
Senior Trade Commissioner at the Canadian High Commission in Port- of–Spain Joshua Hodgson, who travelled to Guyana for the forum, told Stabroek Business that Canada was seeking to make the Guyanese business community more aware of “the business culture of Canada and the procedures associated with doing business in Canada.
Last Monday’s forum featured presentations by Hodgson as well as presentations by teleconference from representatives of Canadian trade promotion offices in Nova Scotia, Ottawa and the Trade Facilitation Office of the Ministry of Foreign Affairs and Foreign Trade in Canada.
Meanwhile Hodgson told this newspaper that the newly established CARICOM/Canada Business Forum is preparing to host a major two-day business forum in Port-of-Spain from November 17th-18th, 2008. Hodgson said the forum which seeks to bring together private and public sector officials from the Caribbean and Canada will seek to provide the regional business community with general information on investing in Canada as well as specific sectoral details.
The forum, which will be addressed by Trinidad and Tobago Minister of Trade and Industry Lenny Smith will also feature presentations by Canadian officials on mining and the environment and international business services including financial services. Hodgson said that an important feature of the forum, will be a review of CARICOM/ Canada trade and investment relations and an assessment of the status of negotiations towards a new CARICOM/Canada agreement to replace CARIBCAN in 2011.
Hodgson said that apart from the formal proceedings the forum would also seek to facilitate networking between regional and Canadian private sector officials which he hoped would lead to “longer term relationships.”
In his post-forum interview with the Stabroek Business Hodgson said that pivotal to Canada’s broader concerns in the quest to boost trade and investment ties were the health, safety and environmental considerations which he said had become a pivotal part of economic activity.
According to Hodgson stronger trade and investment ties between Guyana and Canada would also have to be attended by agreements that ensured that the best possible climate was created for Canadian and Guyanese businesses.
