- Colombia is a growing economy. Its GDP growth was 7.5 per cent in 2007 and has forecasted rates of 4.7 per cent for the next five years
- Colombia will eliminate tariffs on 98 per cent of current Canadian exports immediately, or over a 5- to 10-year period.
- Colombia is an investment desitination for more than 50 Canadian companies mostly from the mining, oil exploration and manufacturing sectors.
- Top imports to Canada from Colombia include coffee, bananas, coal and fuel.
Free Trade is one of the cornerstones of western capitalism, and I hope we continue to expand our free trading zone around the world. This will only make us more resilient to downturns in the American economy.
Of course, I hope the Americans (and in particular Obama) to take note of this development and realize that shutting down free trade between Canada and the United States to appease protectionist interests would do nothing but harm everyone involved.
Free trade increases the economic output of the involved nations, free trade is a good thing.
2 comments:
I dunno why everyone is so worried that Barry O will nuke NAFTA. To do so would negate the free access to Canadian oil supplies and, since we're their #1 import source, that'd be ill advised since we'd be well within our rights to shut the pipelines down and sell our excess oil to China (which ironically would be paid for by the glut of US Dollars China is holding).
Obama's misguided... not stupid.
Anon don't forget that Obama is talking about not importing our "dirt oil".
"If it turns out that those technologies don't advance . . . and the only way to produce those resources would be at a significant penalty to climate change, then we don't believe that those resources are going to be part of the long-term, are going to play a growing role in the long-term future," said Jason Grumet, Mr. Obama's senior energy adviser."
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