Free Trade Agreement Canada Brazil

«The whole thing is missing. It does not see the impact of a free trade agreement as an institutional framework that destroys the Amazon rainforest in Brazil,» he said. «Mercosur will have the main environmental protection provisions of any trade agreement. We need to combine trade with the environment,» she said. In an emailed statement, the Office of Small Business, Export Promotion and International Trade told Mary Ng: «Our government is firmly committed to upholding the principle that free and progressive trade and environmental protection must support each other. Due to strong export growth and weak imports, Canada is now a net exporter of machinery and equipment to Brazil. It has also become a major net exporter of mineral and industrial products and a net exporter of forest products. On the other hand, Canada`s trade deficit in agricultural goods is widening with Brazil as Brazil continues to develop its natural advantage in agricultural production. In 2020, Brazil and Canada will celebrate the 10th anniversary of the Science, Technology and Innovation Agreement (ITS). The agreement provides for the creation of a joint committee to promote bilateral cooperation between Canadian and Brazilian industrial, scientific and government partners. As noted above, Canada`s current approach to building trade relations with Brazil focuses on developing business-to-business relationships through cooperation in science, technology and innovation. However, the Committee considered that Brazil wanted additional measures, including considering the possibility of a free trade agreement or an economic cooperation agreement with Brazil.

On April 12, 2017, Canada and MERCOSUR held a technical working meeting to reactivate discussions on a possible trade agreement between the two parties. On July 24, 2017, delegations from Canada and Mercosur held a technical meeting to discuss a possible trade agreement. Brazil is also the economic engine of the continent`s largest and most powerful trading bloc, the Southern Cone Common Market (Mercosur). Mercosur was established in 1991 with the aim of creating a common customs union between the participating countries. Currently, four countries are members of Mercosur: Brazil, Argentina, Uruguay and Paraguay. Venezuela has formally applied to join the Bloc; his application has been accepted by Argentina and Uruguay, but is awaiting approval from Brazil and Paraguay. In 2017, Canada purchased more than CAD 500 billion in international goods and services. [2] The free trade agreement has the potential to create significant opportunities for Member States that provide or wish to provide goods and services to Canada.