Canada is among 23 WTO-member countries negotiating a so-called trade-in-services agreement as part of global trade talks started in Doha, Qatar in 2001. We evaluate each partner as they express an interest, Fast said today in an interview in Singapore , when asked about the prospect of China joining the talks. Fast declined to speculate about whether China would join the talks. Well have discussions with them and determine what their level of ambition is and then make a decision collectively as a group. The countries negotiating the services deal strongly believe eliminating trade barriers in the trade of services is highly desirable and were making good progress, he said. China told TISA participants in a letter circulated Sept. 29 that it promised to participate in the negotiations positively, constructively and equally and that it looked forward to participating in the next round of talks Nov. 4-8, Bloomberg BNA reported this week. Canada and China signed an agreement last year to protect foreign investors. Canadian Foreign Affairs Minister John Baird said last year his government would complete existing free-trade negotiations before pursuing agreements with other countries. Canada isnt negotiating a free-trade deal with China. To contact the reporters on this story: Sharon Chen in Singapore at email@example.com ; Andrew Mayeda in Ottawa at firstname.lastname@example.org To contact the editor responsible for this story: Chris Wellisz at email@example.com More News:
Canada on track to remain top U.S. trade partner
The currency was weaker against most of its 16 major peers as crude oil, the nations largest export, declined and stocks fell. U.S. Speaker John Boehner said the House cant pass an increase to the U.S. debt ceiling without packaging it with other provisions — something President Barack Obama has labeled a nonstarter, adding to concern growth is slowing in Canadas largest trading partner. Its more a function of the data that came out this morning, David Tulk , chief Canada macro strategist at TD Securities, a unit of Toronto-Dominion Bank, said by phone from Toronto. In the vacuum of data from a North American perspective, what is released typically on the Canadian side of the border may have more of an outsized impact on the currency. Some U.S. economic reports havent been released because of the government shutdown. The loonie, nicknamed for the image of the aquatic bird on the C$1 coin, declined 0.2 percent to C$1.0313 per U.S. dollar at 5 p.m. in Toronto. One Canadian dollar buys 96.97 U.S. cents. Oil Trade West Texas Intermediate crude dropped 0.7 percent to $103.16 a barrel in New York. The discount for Canada s benchmark Western Canada Select faced to West Texas Intermediate, its U.S.
A budget impasse closed non-essential U.S. government services early last week and the showdown is bringing lawmakers closer to a separate and more crucial deadline to raise the debt ceiling to avoid a potential default. Investors are concerned the government shutdown will start to bite into economic growth, which could hurt Canada, the largest trading partner with the United States. The possibility of a default has also sparked fears of the havoc it would wreak on the global economy and markets. Wednesday’s strength in the U.S. dollar is unlikely to last as the focal point turns back to the country’s fiscal problems, said Benjamin Reitzes, senior economist and foreign exchange strategist at BMO Capital Markets in Toronto. “A weaker U.S. economy is clearly bad for Canada, so if the U.S. dollar does weaken, Canada may not benefit that much,” said Reitzes. The Canadian dollar was at C$1.0374, or 96.39 U.S. cents, weaker than Tuesday’s close of C$1.0368, or 96.45 U.S.
Canada Dollar Falls on Building Permits Decline, U.S. Shutdown
trade partner Enlarge Wikipedia Canada is on track to remain the United Statesa largest trading partner for at least the next two decades. Staff Dayton Business Journal Canada is on track to remain the United Statesa largest trading partner for at least the next two decades, according to a report in Buffalo Business First that cites the newly released U.S. HSBC Global Connections Report. At the same time, China is expected to top Mexico as the second-largest importer of U.S. goods a at least in the short-term, the report shows. Chinaas share of U.S. exports is expected to more than double over the next 30 years, rising to 18 percent by 2040. Released Oct. 7, the report tracks short-, mid- and long-term trade outlooks for U.S. businesses. The forecast includes trade data for 25 various countries and territories. Ohio and the Dayton region do a lot of trading with Canada, and strong ties with that nation could be a boost to our region, which is strong in exporting. The Dayton regionas exports totaled $4.5 billion in 2012, ranking the area No.