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CANADA: LATIN BUSINESS BOOM

Written by thomas · Filed Under Aeronautics News 

July 31, 2008

thomas

CANADA: LATIN BUSINESS BOOM

Is the title of an article in Latin Business Chronicle on July 21 which spells out the success Canada is having with trade in Latin America. According to the article, Canada’s exports to the region are growing at higher levels than US and European exports. The article quotes a number of companies like Scotiabank and Nortel, which are bullish on Latin America. It goes on to state that Canada’s trade and investment will get a further boost from free trade agreements with Peru, its third-largest trade partner in the region, and with Colombia, its fifth-largest export market. Last year, Canada’s exports to Latin America reached $10.9 billion for an increase of 15% over 2006, which means that Canada’s exports grew faster than those from the US (up 6.2%) and from the European Union (up 12.8%). Meanwhile imports from Latin America grew 5.9% to $28.5 billion, which was higher than US imports from the region which grew but lower than imports to EU which grew at 10.5%. Overall trade between Latin America and Canada reached $39.5% for an increase of 8.3%. A great ‘must read’ article. For the full story, go to www.latinbusinesschronicle.com

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