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. Its a pleasure to be here with you to help kick off this dynamic forum. Id 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 theres a growing excitement about the CaribbeanCanada 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 Canadas continued commitment to working closely with our partnersin the hemisphere to promote security, democracy,and prosperity. That includes our Prime Ministers 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

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. Its 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, weve become close partners. Our trade relationship is very well-developed. Its 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.

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 weve made a great start, I believe were only scratching the surface of our partnerships 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. Its the time to break down trade barriers, not build them. Were seeing it around the world nations making it easier to do business with one another. Thats 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.

This is even more important in these days of accelerated globalization. So were 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. Thats 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.

Throughout the negotiations, Canada takes into account the vulnerabilities and varying levels of development in the region. Were 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 Im 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. Youre 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, thats exactly what we need to do.

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 were 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. Lets 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, lets write the next chapter in our extraordinary partnership. Thank you very much.
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