The following is excerpted from the 18 October 2010 news release by DFAIT.

The Honourable Peter Van Loan, Minister of International Trade, today launched the fifth round of negotiations toward a trade agreement between Canada and the European Union. The negotiations are taking place in Ottawa this week.

“A Canada-EU agreement will give Canada preferential access to one of the largest markets in the world,” said Minister Van Loan. “It will grow Canada’s economy by at least $12 billion. It will create new opportunities, jobs and prosperity for Canadian businesses, workers and their families.”

Canada and the European Union have held four successful rounds of negotiations since October 2009. For the first time, the provinces and territories are actively engaged in the negotiations. This will ensure a broad and deep trade agreement that will benefit all Canadians.

“At this time of fragile economic recovery, our government is committed to opening new markets for Canadian businesses and creating jobs in Canada,” said Minister Van Loan. “In just four years, we have negotiated free trade agreements with eight countries. We are holding free trade talks with nearly 50 others, and expanding and improving the three agreements signed by the previous government.

“Once this trade agreement is in place, Canada will be the only developed country with free trade deals with the EU and the United States, the two largest markets in the world. This will give Canadian businesses a key competitive advantage and help them to succeed in the global marketplace.”

In this year’s Economic Freedom of the World index, Canada maintained its position as a leader in promoting free trade to open new markets for businesses and workers...

Since 2006, the Harper government has concluded free trade agreements with Peru, Colombia, Jordan, Panama and with the European Free Trade Association states of Iceland, Liechtenstein, Norway and Switzerland...