Latest Updates to "Doing Business Abroad" Web Site

Foreign Affairs and International Trade Canada has just launched the Doing Business Abroad Web site - a revamped version of its former InfoExport Web site.

Doing Business Abroad is the Trade Commissioner Service’s information focal point, aimed at businesses interested in pursuing trade abroad.

Among other features, the site offers more than 500 market sector profiles, giving Canadian businesses the in-depth information they need about foreign market opportunities in key sectors.

Visit the Doing Business Abroad Web site at http://www.infoexport.gc.ca/ie-en/MarketReportsAndServices.jsp.

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Canada-Panama Exploratory Discussions Towards Possible Free Trade Agreement Negotiations

The Government has agreed to participate in exploratory discussions on the possibility of free trade agreement (FTA) negotiations with Panama. The first meeting will take place on May 6-7, 2008 in Ottawa. Depending on the outcome of the exploratory talks, the government would embark on comprehensive consultations with stakeholders across Canada before any decision is taken on the launch of FTA negotiations.

Background

Panama is an established market for Canada and the bilateral trade and investment relationship has strong potential for long-term growth. In 2007, bilateral merchandise trade between Canada and Panama totalled $115.1 million, with Canadian exports accounting for $86.4 million and imports totalling $28.7 million. From 2005 to 2007, Canadian merchandise exports to Panama grew by 43.7%.

In 2007, Canada's top exports to Panama consisted of pharmaceutical products, machinery, electrical and electronic equipment, malt and barley, vegetables and meats. Imports from Panama included mineral fuels, fruits and nuts, fish and seafood, spices, coffees and teas, fats and oil products and wood products. The stock of Canadian direct investment in Panama reached $149 million at the end of 2006, and there is a heightened level of Canadian interest and activity that points to the likelihood of significant growth for Canadian service providers and investors over the next few years. Sev