Tuesday, June 25, 2024
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HomeNewsCaribbean NewsCanada joins the Americas Partnership for Economic Prosperity 

Canada joins the Americas Partnership for Economic Prosperity 

By Caribbean News Global fav

OTTAWA, Canada – Mary Ng, minister of international trade, export promotion, small business and economic development, last Friday joined Antony Blinken, US secretary of state, and Katherine Tai, US trade representative, in announcing the launch of the Americas Partnership for Economic Prosperity (APEP).

Minister of Small Business, Export Promotion and International Trade, Mary Ng

“Canada recognizes the importance of APEP to reinforce inclusive growth, sustainable development, and the creation of good jobs in the region. We support APEP’s aim to complement free trade agreements in the region through strengthening supply chain resilience, inclusive trade, multilateral investment and anti-corruption measures,” said minister Ng.

Led by the United States, APEP is a new framework for cooperation across the Americas aiming to deliver economic growth in the region, generate good middle-class jobs and reduce economic inequality.

In a joint declaration, the 12 APEP member countries committed to working together to advance mutual interests and enhance regional prosperity. Canada is keen to deliver on its bold ideas to advance and deepen the shared visions of development, democracy and prosperity.

“This ambitious partnership will help integrate member country economies in a way that encourages human rights, economic development and transparent governance and eradicates forced labour. With its focus on inclusive trade, multilateral investment and anti-corruption measures, APEP seeks to strengthen the diversity, sustainability, and resilience of the region’s supply chains by expanding its trade ties, especially those related to the flow of critical minerals, food, clean energy, and vaccines,” said Global Affairs Canada, in a press release.

Minister of Foreign Affairs, Mélanie Joly

“APEP is an excellent opportunity for democracies in the hemisphere to work together to advance our mutual interests and enhance regional prosperity. Together, we can help our economies become more inclusive, more sustainable and better able to serve the collective interests of our people, create jobs and protect the environment,” said Mélanie Joly, minister of foreign affairs.

Quick facts

  • The creation of APEP was announced by US president Joe Biden in June 2022 on the margins of the Summit of the Americas.
  • The initial members of APEP are Barbados, Canada, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Panama, Peru, the United States and Uruguay.
  • All member countries of APEP signed the Joint Declaration on the Americas Partnership for Economic Prosperity.
  • In April 2023, minister Ng will travel to Chile for an in-market Canada trade mission that will explore sustainable business opportunities in Chile’s clean technology sector.
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