11 June 2008

Canada and France Sign Joint Action Plan to Enhance Commercial Relations

The Honourable David Emerson, Minister of Foreign Affairs and International Trade and Minister for the Pacific Gateway and the Vancouver-Whistler Olympics, today signed a Canada-France Joint Action Plan with his French counterpart, Christine Lagarde, Minister of Economy, Industry and Employment. The signing took place in Paris, where Minister Emerson is attending an international meeting. …

The Canada-France Joint Action Plan is a unique collaborative approach to enhance economic relations and pursue an ongoing commercial dialogue between the two countries. The Plan addresses three key objectives:

      •         to strengthen cooperation in areas related to competitiveness, innovation, and science and technology;

      •         to support a closer economic partnership between Canada and the European Union; and

      •         to assist in the development of small and medium-sized enterprises in the Canada and EU markets.

France, with one of the world’s largest economies, is Canada’s ninth-largest trading partner and its fourth-largest in Europe after the United Kingdom, Germany and Norway. France is Canada’s fourth-largest investor, with a stock worth $17.4 billion (2007), and in 2006 nearly 400 French companies had head offices in Canada. In addition, France is seventh as a destination country for Canadian investment, with a stock in that country of $14.6 billion (2007). At the end of 2007, bilateral merchandise trade between France and Canada reached a record level of $8.2 billion….