The Government Introduces Legislation to Implement Free Trade Agreement with Honduras

Submitted by admin on Wed, 02/12/2014 - 05:06

Today the government introduced the Canada-Honduras Economic Growth and Prosperity Act to implement the Canada-Honduras Free Trade Agreement as well as agreements on labour and environmental cooperation.

The Honourable Ed Fast, Minister of International Trade, and José Adonis Lavaire, Minister of Industry and Commerce for Honduras, signed the agreements in Ottawa on November 5, 2013.

Domestic debate and ratification processes will now take place in Canada and Honduras to bring the agreements into force...

Quick Facts

  • The Canada-Honduras Free Trade Agreement will provide increased market access for goods, with almost 98 percent of tariff lines being duty-free once the agreement is fully implemented.
  • Key Canadian sectors that will benefit immediately from enhanced market access include beef, pork, potato products, vegetable oils and grain products, as well as a range of processed food products.
  • The agreement will include enhanced provisions on cross-border trade in services, investment and government procurement.
  • Canadian and Honduran economic ties are growing. The latest figures show 46-percent growth in merchandise trade between the two countries since 2007. In 2012, Canada exported $38.6-million worth of goods to Honduras.

This has been excerpted from the 28 January 2014 news release by Foreign Affairs, Trade and Development Canada, and is avaiable in its entirety at http://news.gc.ca/web/article-en.do?mthd=tp&crtr.page=2&nid=812039&crtr.tp1D=1.