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A publication of The Canadian Council for the Please click on each headline for this week's top stories. CCA Events 1. CCA Board and Annual General Meeting
Trade Missions, Seminars and Other Events Bogotá - Colombia 1. 2nd Andean and Central America Energy Congress 2008 Washington - United States of America 2. South American Productivity Leadership Forum Monterrey - Mexico 3. Women's Trade Mission to Monterrey, Mexico October 21 - 24, 2008
Special Announcements 5. Canada's Commitment to the Americas
Regional News 2. Petroecuador, Enarsa Part Ways on Oglan Field 3. How to Rescue the Reputation of Chilean Salmon 4. Fedesoft Concentrates Efforts in Internationalization 5. Colombia’s Peso Surges after U.S. Jobs Report, Hostage Rescue CCA Events
CCA Board and Annual General Meeting (This event is for CCA members only) Dear Valued CCA Board Members and/or Members, We have scheduled July 17th for our next Board and Annual General Meeting. Members are encouraged to participate in the AGM. Your input is valuable and participation most welcomed. Please join us! Date: Time: For further information please contact Andreia Santos by email at cca@iecanada.com or by phone at 416-595-5333 ext. 42. Trade Missions, Seminars
and Other Events
Bogotá - Colombia July 9th to 11th For more information visit: www.acaec2008.com South American Productivity Leadership Forum "CATALYZING SOUTH AMERICAN COMPETITIVENESS" The South American Productivity Leadership Forum (SAPLF) hosts the projects that are integrating the continent, boosting continent-wide productivity and offering near-term development opportunities. As a part of the Leadership Forum series, the South American Productivity Leadership Forum is a dynamic combination of project presentations, private meetings and ‘deep dives’ into specific issues and CEO/political leadership presentations. Wednesday, July 23 & 24 2008 Monterrey - Mexico Organization of Women in International Trade Join Trade Mission to Mexico Deadline: June 30, 2008 (The earlier you register, the better, to ensure maximum time to plan most effective business matching for you.) Click here to view a complete invitation to the event. For information please contact: Gail Morris Special Announcements
Canada's Commitment to the Americas Notes for an Address by the Honourable Helena Guergis, Secretary of State for Foreign Affairs and International Trade and Secretary of State for Sport, at the Pan-American Association of Philadelphia Summary from the original article. The Honourable Helena Guergis, Secretary of State for Foreign Affairs and International Trade, delivered a speech at the Pan-American Association of Philadelphia on June 27 th. Ms. Guergis spoke about the strong commercial relationship between Canada and the United States, which totalled $660 billion in 2007. Canada has become the biggest purchaser of U.S. goods and the top customer for more than 35 states. This relationship has been strengthened by the joined manufacturing process between both countries. For example, the parts that go into assembling a single North American car cross the border numerous times, creating value and supporting jobs at each stage of production. And over the years, we’ve developed an impressive trade corridor that reaches every part of the two countries and involves all modes of transport, said the Secretary of State. The inclusion of Mexico in the North American Free Trade Agreement (NAFTA) has enriched this bilateral relationship. It has created one of the world’s largest free trade zones in the world and it still benefits all three economies. Besides the strong relations with the U.S and Mexico, Canada very much sees itself as part of a larger family- a hemispheric family, Says Ms. Guergis. The country recognizes the incredible progress in the Americas and is willing to continue supporting it through free trade and cooperation which creates stability and opportunity to its citizens. This vision includes: • More accountable democracies that deliver prosperity, security and human rights to their citizens • Stronger economies throughout the hemisphere committed to open markets • enhanced regional stability and security • Greater hemispheric cooperation and economic integration Canada recognizes that an open, cooperative approach is a win-win approach. It gives Canadian investors and businesses new links to some of the world’s most dynamic emerging economies. It gives our partners in the Americas a new doorway to the North American marketplace, creating opportunity and prosperity for their citizens. Above all, it strengthens the bonds of friendship and trust that all international relationships require in today’s global economy. For the full story, click here Regional News
Excerpt from original article: A group of executives from Mexichem, conglomerate Alfa and Idesa said on Friday they could invest up to $2 billion in building a petrochemicals plant in natural-gas rich Peru if they could secure cheap supplies of ethane. "Our interest lies in getting the raw materials for a petrochemical complex. If we could get hold of ethane gas at competitive prices, our investments could exceed $2 billion," Alfa President Dionisio Garza told reporters. Peru has proven natural gas reserves of 13.4 trillion cubic feet and the government wants investors to help it boostoil and gas output as well as build petrochemical plants to produce goods such as explosives, fertilizers and plastics. For the full story, click here Petroecuador, Enarsa Part Ways on Oglan Field
Excerpt from original article: Ecuador 's state oil company Petroecuador and its Argentine counterpart Enarsa will not advance plans to develop the Oglán oilfield in the former country, Ecuador's mines and oil ministry said in a statement. "Enarsa's offer was not attractive to Ecuador's government," a ministry official told BNamericas. Instead, Petroecuador will accept offers from other state oil companies interested in developing the 200,000ha field in Pastaza province, the official said. Petroecuador wants to develop the project as a joint venture to offset its high price tag and technological challenges as a heavy crude field, the official said. For the full story, click here How to Rescue the Reputation of Chilean Salmon Summary from original article: The Chilean salmon industry had boomed in Southern Chile and it now represents $2.2 billion in export revenues, which makes Chile the world’s second-largest exporter of salmon after Norway. However, the output is now stagnating because of the prevalence of diseases among the fish. These include infectious salmon anaemia, a virus that first appeared in Norway in the 1980s but from which Chile had remained free until last year. The industry vigorously denies this—and it may well be right. But its defense has been impeded by a lack of hard data. The evidence has been that Chilean salmon is no worse than other farmed fish—and may be better. Importers have occasionally rejected shipments because of traces of malachite green, a forbidden fungicide, and, on one ccasion in Japan, because of excess antibiotic residues. But a study by American and Canadian scientists published in Science in 2004 found that the Chilean fish contained significantly lower levels of contaminants such as PCBs and dioxins than European salmon (although more than wild salmon). Chile ’s salmon farmers also have other advantages, including plenty of room to expand in clean waters and cheaper labour than competitors elsewhere. Provided it cleans up parts of its act, the salmon industry should still have a profitable future For the full story, click here Fedesoft Concentrates Efforts in Internationalization Colombian software developers association Fedesoft plans to work this year in promoting the internationalization of the IT sector in order to increase exports from the current US$27mn-30mn, Fedesoft president Alberto Pradilla told BNamericas. Of the US$2.12bn billed by the Colombian IT industry, nearly 90% represented domestic sales. "But the industry has become global, and players in the sector are increasingly expanding coverage to other markets. We need to look for other markets to target with those solutions where we have gained expertise," Pradilla said. For the full story, click here Colombia’s Peso Surges After U.S. Jobs Report, Hostage Rescue Excerpt from original article: Colombia 's peso gained as a report showing the U.S. economy lost jobs last month added to speculation the Federal Reserve will hold off raising interest rates, helping maintain the allure of Latin America's higher- yielding securities. The peso has surged 8.3 percent this week, the biggest three-day advance since at least 1995, rebounding from a 14 percent tumble last week that was triggered by a central bank plan to buy dollars in the currency market. The peso jumped as much as 3.4 percent today. Demand for the currency also picked up after Colombian troops yesterday rescued former presidential candidate Ingrid Betancourt, three U.S. citizens and eleven other hostages from Latin America's biggest guerrilla group. The operation marks one of the worst setbacks for the rebels in 44 years of warfare. "The security situation, but more importantly, the business environment is likely to keep improving,'' said Boris Segura, an economist at Morgan Stanley in New York. For the full story, click here This newsletter has been brought to you in part by: CCA Communication Committee: David Medina and Andreia Santos For suggestions or comments about our CCA Bulletin feel free to contact us by email at cca@iecanada.com If you do not wish to continue receiving the CCA Update, contact us at: cca@iecanada.com. Type in Unsubscribe in the Subject line. Disclaimer – CCA Update
is provided as an information service to our members and key contacts. It is
designed to provide the most up-to-date trade information from a variety of
sources. The information we feature does not necessarily reflect the
Council’s opinion on a given international trade issue. Although we
endeavour to disclose accurate and timely information, there can be no
guarantee that such information is accurate as of the date it is received or
that it will continue to be accurate in the future. The Canadian Council for
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