Canada-Colombia trade deal takes effect
2008 deal now in force removes tariffs on coal from Colombia, wheat from Canada
The Canada-Colombia Free Trade Agreement came into force on Aug. 15, 2011. The deal removes or reduces most tariffs on trade between the two countries.
The agreement was reached in 2008 and received royal assent in Canada in 2010.
Two-way trade between Canada and Colombia totalled $1.4 billion in 2010. So what do the two countries trade?
Here are the top five Canadian imports from Colombia and the top five exports to Colombia, based on the average value for 2004-2006:
|Canadian imports from Colombia||Canadian exports to Colombia|
|Coffee||Newsprint and paper|
|Bananas||Machinery and equipment|
|Fuel oil||Off-highway dumpers*|
|Cut flowers*||Pulses (beans, peas, lentils)|
The top five imports account for 80 per cent of Canada's imports from Colombia.
The top five exports account for 70 per cent of Canada's exports to Colombia.
|Wheat alone represents 22 per cent but that is just 2.5 per cent of the wheat Canada exports worldwide.|
|*Half the cut flowers that Canada imports come from Colombia.||*Almost a quarter of the off-highway, heavy-duty dump trucks that Canada exports go to Colombia.|
|(Source: Department of Foreign Affairs and International Trade, Canada)|