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31 October 2008
The Conservative government has proposed a number of measures to those interested in maintaining and expanding Canada’s international trade and investment relations. Although the trade-related aspects of the government’s platform cannot be guaranteed to come to fruition in the same form as outlined in its intended agenda, given the uncertainties associated with operating in a minority government, the government has indicated that it will seek to:
In other words, the government has indicated that it will continue to be outward looking from a trade and investment perspective and will focus on making Canadian companies more competitive in the global market.
The government intends to increase Canada’s level of trade with emerging markets by:
The government intends to reduce or eliminate trade barriers between the various regions within Canada by: (i) employing the Agreement on Internal Trade (an agreement between the federal government and the provinces) to eliminate further barriers that restrict trade, investment and labour mobility within Canada by 2010; and (ii) relying on the federal trade and commerce power, if necessary, to strengthen the country’s economic union.
As part of the government’s initiative to increase the ability of Canadian businesses to compete in the global marketplace, the government has indicated a commitment to increase the access of Canadian companies to investment opportunities abroad.
It will also work towards opening up two regulated sectors (airlines and uranium mining), thereby attracting additional foreign investment into Canada, provided that proposed foreign investments in these areas satisfy the national security test and that reciprocal benefits are provided by Canada’s trading partners.
As a means of providing support to various Canadian industries, the government has indicated that it intends to:
Other trade-related measures include the following:
For further information on this topic please contact Greg Kanargelidis or Jack Quinn at Blake Cassels & Graydon LLP's Toronto office by telephone (+1 416 863 24 00) or by fax (+1 416 863 2653) or by email (firstname.lastname@example.org or email@example.com). Alternatively, please contact Cliff Sosnow or Elysia Van Zeyl at Blake Cassels & Graydon LLP's Ottawa office by telephone (+1 613 788 2200) or by fax (+1 613 788 2247) or by email (firstname.lastname@example.org or email@example.com).
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Elysia Van Zeyl