The Minister of State Ablonczy summarizes in her speech: 1) She congratulates the organizers of the CARICOM-Canada Trade Development Forum for bringing together businesses and officials from Canada and Caribbean countries to explore new opportunities for trade and investment. 2) Canada has a growing partnership with Caribbean countries and remains committed to promoting security, democracy, and prosperity in the region through programs like scholarships and development assistance. 3) While trade between Canada and the Caribbean has increased significantly over the past decade, an agreement between Canada and CARICOM could further increase trade and investment by reducing barriers and encouraging two-way investment.

1. Address by Minister of State Ablonczy at
CARICOM-Canada Trade Development Forum
Mississauga, Ontario - November 2, 2011
Check Against Delivery
Thank you for that kind introduction.
It’s a pleasure to be here with you to help kick off this dynamic
forum.
I’d like to congratulate the organizers.They have brought together
a wide variety of businesses, business associations and officials
from our many Caribbean partnersandfrom Canada.
What a tremendous opportunity for everyone here to make new
contacts, and explore new opportunities for trade and investment.
I can tell you there’s a growing excitement about the Caribbean-
Canada partnership.
Recently at the UN in New York, I had the opportunity to meet
with a number of leaders from Caribbean countries.
I told them about Canada’s continued commitment to working
closely with our partnersin the hemisphere to promote security,
democracy,and prosperity.
That includes our Prime Minister’s announcement in 2007 of $600
million over 10 years in development assistance to the CARICOM
region.
It also includes as a well-established scholarship program.
Since 2007 Prime Minister Harper has announced two key
scholarship programs that benefit our Caribbean partners –the

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Canada-CARICOM Leadership Scholarship Program and the
Emerging Leaders in the Americas Program.
Last year in fact, Canada funded approximately 400
scholarshipsfor people from CARICOM countries.
It’s another great example of the bridges being built between
CARICOMandCanada.
As well, you can point to our many initiatives to partner with our
neighbours to promote security and good governance.
And – certainly -- efforts to boost trade and investment within the
region.
The people I met with in New York are very enthusiastic – as we
are here – about deepening and expanding the trade and investment
ties shared by the CaribbeanandCanada.
These ties go back well over a century.
In fact, our Trade Commissioner Service has been active in the
Caribbean region for over 100 years, helping businesses get
established there.
Since then, we’ve become close partners.
Our trade relationship is very well-developed.
It’s climbed more than 85 per cent over the last decade alone –
from $1.3 billion in 2001 to $2.4 billion in 2010.
Many Canadian companies have found great success in the
Caribbean market.Sectors like financial services, IT, security,
mining, education and infrastructure.

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Investment, too, is impressive.
Canadian direct investment in the Caribbean region last year was
in the billions of dollars.
Experience has shown that closer trade and investment, benefits
companies and people on bothends – in the Caribbean and in
Canada alike.
But while we’ve made a great start, I believe we’re only scratching
the surface of our partnership’s full potential.
Our government has been very clear that these challenging,
uncertain economic times call for more trade and more investment
among states.
We understand the clear, link between trade and jobs, trade and
prosperity for families, trade and quality of life for our countries.
It’s the time to break down trade barriers, not build them.
We’re seeing it around the world – nations making it easier to do
business with one another. That’s because global economies are
increasingly intertwined with supply chains, value chains
becoming more transnational.
Canada has successfully negotiated a number of trade
agreementsin our hemisphere and has entered into discussions with
other potential regional partners.
And look at the Caribbean Community.
CARICOM has long provided a vision of how smaller economies
can band together and create a broader competitive commercial
platform.

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This is even more important in these days of accelerated
globalization.
So we’re naturally very excited about our trade agreement
negotiations with CARICOM .
Caribbean businesses have long looked to Canada not only as an
important market in its own right, but as a gateway to the broader
North American marketplace.
And Canadian businesses in a number of sectors have long called
for improved access to the Caribbean market.
So, we believe that a Canada-CARICOM trade agreement would
greatly increase trade and investment flows between us, and
benefit our people and businesses on both sides.
That’s because when businesses succeed, people succeed.
An agreement would go far beyond tariff reduction and
elimination.
It would also address other barriers to trade – those regulations,
technical requirements and “red tape” that exporters have to
contend with – We could make trade flow quicker and smoother.
And we could provide important stability for business activity.
And an agreement would spark more two-way investment, by
creating a strong investment framework that would provide a
secure, transparent and predictable environment for both sides.
An agreement would send a clear signal to Canadian – and global
investors – that the Caribbean is a sound place for investment.

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Throughout the negotiations, Canada takes into account the
vulnerabilities and varying levels of development in the region.
We’re also committed to negotiating strong labour and
environmental provisions because we believe that responsible
environmental and labour practices support increased trade and
investment.
Negotiations are progressing well, with a third round started in
Ottawa last April and reconvened by videoconference last week.
The negotiating teams are now discussing when the fourth round
will be held.
Trade negotiations are never easy, but I’m confident that we can
work through the remaining issues and emerge with an ambitious
agreement that will be a solid benefit to both sides.
Friends, you in this room can play an importantrole in getting this
message out.
You’re here because you see great potential in closer commercial
ties between the Caribbean and Canada.
You are leaders who can strongly communicate the potential with a
trade agreement in place – one that breaks down trade barriers and
encourages more two-way investment.
History has shown that the single greatest way to create lasting
economic opportunities for people, including our youth, is by
lowering trade barriers.
In these challenging economic times, that’s exactly what we need
to do.

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Ladies and gentlemen, CARICOM and Canada have a long story
of friendship and co-operation.
From our shared history and languages.
Our common systems of government.
To our strong people-to-people links.More than half a million
Canadians are of Caribbean origin and millions of Canadians visit
the Caribbean every year.
And then, the kind of co-operation among businesses we’re seeing
right here at this forum.
With your support, Canada and CARICOM can set a clear
example, and show the world the power of increasing trade and
investment opportunities to create jobs, unlock new sources of
prosperity for people and build a brighter future for the next
generation.
Let’s work together to advocate for an ambitious trade agreement
that will help the Caribbean and Canada create more opportunities
for our citizens in the years to come.
Together, let’s write the next chapter in our extraordinary
partnership.
Thank you very much.
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