|By Marketwired .||
|August 7, 2014 04:04 PM EDT||
BOGOTA, COLOMBIA -- (Marketwired) -- 08/07/14 -- Canada Revenue Agency
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today attended the presidential inauguration of incoming Colombian president Juan Manuel Santos Calderon, in Bogota. Recently, Canada and Colombia celebrated 60 years of the establishment of full bilateral diplomatic relations.
Canada enjoys a productive and multifaceted relationship with Colombia, which includes closer economic ties as a result of a bilateral free trade agreement, a frank dialogue on human rights, and development co-operation. Since July 2012, Canada and Colombia have had a bilateral tax treaty in force, which was one of the first tax treaties ever negotiated by Colombia.
Tomorrow, Minister Findlay will be meeting with Dr. Christian Jaramillo, acting director of the National Tax and Customs Agency, to discuss international collaboration in tax administration and best practices to address the underground economy.
- The Canada-Colombia Free Trade Agreement came into force on August 15, 2011. Colombia is an established market for Canadian businesses, and the existing free trade agreement and parallel Agreements benefit a wide range of exporters and service providers, as well as promote a more stable and predictable climate for Canadian investment.
- Canada-Colombia two-way merchandise trade in 2013 totaled $1.4 billion, making Colombia our fifth-largest bilateral trading partner in Latin America and the Caribbean (excluding Mexico).
- Colombia ranks as the fifth-largest destination for Canadian direct investment in South and Central America. The total stock of Canadian direct investment in Colombia reached nearly $2.4 billion at the end of 2013.
- The third anniversary of the Canada-Colombia free trade agreement and promotion of Canada's pro-trade plan in the Americas will be highlighted August 10-13 during a three day trade mission to Colombia by the Honourable Ed Fast, Minister of International Trade and the Honourable Maxime Bernier, Minister of State (Small Business and Tourism and Agriculture).
- Colombia is a key priority under Canada's Global Markets Action Plan and Strategy for Engagement in the Americas, which seeks to increase mutual economic opportunity, address insecurity and strengthen institutions, and foster lasting relationships.
- In May 2013, the Organisation for Economic Co-operation and Development invited Colombia to begin accession discussions. Canada strongly supports Colombia's planned accession.
- Canada and Colombia share over 40 years of collaborative engagement on development cooperation. Since 2002, Canada's bilateral development programming objective is to contribute to improving human rights and increasing social and economic opportunities for the most vulnerable, including children and youth.
- Since 2006, Canada has disbursed over $180 million in development programming, peace and security programming and on human rights- and justice-related projects in Colombia.
"Our two nations benefit from a long-standing relationship based on shared values and strong political, economic and social ties. Canada's representation here today continues to build on that history."
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue
"August 15 will mark three years since the Canada-Colombia Free Trade Agreement came into force, offering Canadian and Colombian businesses invaluable expanded commercial ties. On behalf of our Government, we look forward to our continued relationship with President Santos, and to further support Colombia as they go through the Organization for Economic Cooperation and Development accession process."
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue
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Director of Communications
Office of the Minister of National Revenue
Canada Revenue Agency
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