Canada is actively seeking to strengthen trade ties with Brazil under the Mercosur-Canada Free Trade Agreement. Amidst U.S. trade tensions, Canada aims to diversify its economic partnerships, focusing on sectors like renewable energy and agrotechnology. Evelyne Coulombe highlights the potential benefits and opportunities for collaboration in various industries, suggesting a strategic shift in Canada’s trade approach.
Canada is intent on strengthening its trade relations with Brazil, focusing on the Mercosur-Canada Free Trade Agreement. Evelyne Coulombe, Canada’s ambassador to Germany, stated, “I believe there are opportunities to deepen our trade relationship,” emphasizing the need to finalize this agreement following recent successes with Chile and Ecuador.
Initiated in March 2018, negotiations for the Mercosur-Canada partnership remain ongoing, but the agreement is yet to be finalized. Ms. Coulombe remarked, “This is a significant opportunity. Every crisis or challenge brings new possibilities,” highlighting the potential for growth in light of the trade war with the United States.
Recently, U.S. President Donald Trump imposed tariffs on imports from Canada and Mexico, prompting retaliatory actions from Canada, which announced tariffs on $107 billion worth of U.S. goods. “We have been neighbors and allies for many years… so it was surprising to be targeted with tariffs,” Ms. Coulombe noted, indicating Canada’s concern over the impact of such measures.
She expressed the critical need for diversifying trade partnerships, stating, “I see this as an opportunity to develop business ties with Brazil, Germany, and Europe…and also Latin America.” This sentiment was reiterated at an event where over 200 Canadian companies were announced to participate in Hannover Messe 2025, the world’s largest industrial technology fair.
In 2024, Brazilian exports to Canada rose by 9.44%, reaching $6.31 billion, largely due to key products like gold and sugar. In contrast, imports from Canada decreased by 17.5% to $2.7 billion, primarily affected by currency fluctuations. Ms. Coulombe indicated that collaboration in oil, gas, and renewable energy sectors could yield significant benefits, stating, “We can explore more opportunities in the IT sector, exchange technologies, and also collaborate in scientific research.”
Additionally, the sugarcane and agrotechnology sectors are of particular interest. This year, the Brazil-Canada Chamber of Commerce established a business office in São Paulo to pursue new commercial opportunities in these areas.
In conclusion, Canada aims to enhance its trade relationships with Brazil via the Mercosur-Canada Free Trade Agreement, capitalizing on new opportunities amid tensions with the United States. The focus is on diversifying markets and exploring mutual benefits in various sectors, particularly renewable energy and agrotechnology. Ms. Coulombe’s insights underline the importance of collaboration and strategic expansion of trade ties between Canada and Brazil, reflecting a commitment to economic growth in both nations.
Original Source: valorinternational.globo.com
