Canada signs new FTA with Honduras

By Line Elise Svanevik

- Last updated on GMT

Related tags: International trade

Canada and Honduras sign FTA agreement
Canada and Honduras sign FTA agreement
The world’s third-largest pork exporter Canada has signed a new free trade agreement (FTA) with Honduras, it was announced on Tuesday.

The Canadian government has signed the agreement, which has been a move welcomed by Canada Pork International (CPI).

In a press release, CPI president Jacques Pomerleau said: “CPI and its members fully appreciate that the FTA with Honduras restores our access to the Honduran market, which we estimate to be worth between CA$5m and CA$7m in the first full year of the FTA.

“The Canadian pork industry is very dependent on export market sales as more than 60% of its production is exported outside Canada and our industry needs to have improved access to all possible markets to remain competitive.”

The deal was initially announced two years ago, but was delayed. Upon signing the agreement, the two countries will see 98% of tariffs eliminated on goods traded.

Canadian trade minister Ed Fast told the local press: “We believe by partnering with Hondurans we are also able to help them increase prosperity within the country and lift more people out of poverty… and of course share with them our best practices in areas such as human rights, labour, environment, democracy and freedom.”

Related topics: Meat

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