November 9, 2013 - 

The Honourable Ed Fast, Minister of International Trade, today marked the conclusion of the latest round of negotiations for a trade in services agreement (TISA), which aims to open new markets and create a more predictable and stable environment for Canadian providers of services. The round took place in Geneva, Switzerland, from November 4 to 8, 2013.

“Our government is focused on creating jobs and opportunities for Canadians in every region of the country,” said Minister Fast. “A high-quality international agreement that will liberalize trade in services will lead to new and exciting opportunities for Canadian businesses. Current TISA members represent the world’s largest market for services, with nearly 1.6 billion people and a combined GDP of more than $48 trillion.”

A TISA would provide increased access as well as legal stability and transparency for Canadian providers of services. These include providers in such diverse fields as telecommunications, finance, computing and information technology, retail distribution, transportation, environment, express delivery, energy, accounting, law, architecture, engineering and mining.

Following the last round, China and Uruguay formally expressed their interest in joining the negotiations, which Canada has welcomed. Twenty-three economies currently participate in the negotiations: Australia, Canada, Chile, Chinese Taipei, Colombia, Costa Rica, the European Union, Hong Kong (China), Iceland, Israel, Japan, Liechtenstein, Mexico, New Zealand, Norway, Pakistan, Panama, Paraguay, Peru, South Korea, Switzerland, Turkey and the United States.

In 2012, Canada exported almost $83-billion worth of services. Canada is the world’s fourth-largest exporter of engineering services and a significant exporter of services in several other sectors, including mining, finance and information technology.

By: news.gc.ca