February 24, 2012
News from Thompson Ahern: Weekly Updates
An updated list of recently published government memorandums, notices, regulations and decisions for the week ending February 24, 2011 is now available on our website here.
Counterfeit Cosmetics May Pose Health Risk
(Alison Crawford — CBC News)
Knockoff makeup has caused allergic reactions and posed bacterial threat, says industry
It started with purses and sunglasses.
Now Canadians are buying counterfeit makeup, perfume, shampoo and other health and beauty products the RCMP warns could endanger the public. In the last six months, the RCMP in the Toronto area has seized tens of millions of dollars worth of knockoff goods.
“We’ve estimated that counterfeiters would quadruple their money on a load of counterfeit goods. And that’s a conservative estimate,” said RCMP Insp. Todd Gilmore. He said almost half of all knockoff goods seized are health and beauty products that people apply to their hair and skin or rub around their eyes, nose and mouth.
“Counterfeiters have no regard for your health and safety. They just want to maximize their profits. Who knows how this was produced.” Read more here.
Profits Up 9% at Canadian Companies
(CBC News)
Operating profits at Canadian corporations increased nine per cent to $71.4 billion at the end of 2011, Statistics Canada reported Thursday.
Canada's data agency said Canadian companies made more money during the last three months of 2011 than they did during the three that preceded it. Although profitability is now at the highest level it has been since the end of 2008 when the recession was beginning in Canada, it's still $6.1 billion below the level it was at earlier in the year, the previous all-time high. Read more here.
Operating profits at Canadian corporations increased nine per cent to $71.4 billion at the end of 2011, Statistics Canada reported Thursday.
Canada's data agency said Canadian companies made more money during the last three months of 2011 than they did during the three that preceded it. Although profitability is now at the highest level it has been since the end of 2008 when the recession was beginning in Canada, it's still $6.1 billion below the level it was at earlier in the year, the previous all-time high. Read more here.
February 23, 2012
China Predicted to Become the ‘World’s Trade Powerhouse’
(Industry Week – Steve Minter)
U.S. trade growth will pick up but lag global growth, HSBC reports
The global economy is entering a new period of international trade growth, according to HSBC’s Global Connections trade forecast, with world trade growing at an annual rate of 3.78% over the next five years. HSBC said the world economy will slow in 2012, but then begin growing, picking up speed after the middle of 2014. The bank said overall world trade will grow by $1 trillion year-on-year to 2016.
HSBC predicts even stronger trade growth of 6.23% annually from 2017-2021.
“In 2011, U.S. exports grew an impressive 14.5%, with exports of U.S. manufactured goods reaching a record $1.27 trillion,” said Christopher Lewis, executive vice president at HSBC North America. “With the right focus and commitment, the U.S. and the businesses that drive its economy have the opportunity to surpass those marks if they manage their supply chains and do business with the best trading partners regardless of where they are located in the world.” Read more here.
U.S. trade growth will pick up but lag global growth, HSBC reports
The global economy is entering a new period of international trade growth, according to HSBC’s Global Connections trade forecast, with world trade growing at an annual rate of 3.78% over the next five years. HSBC said the world economy will slow in 2012, but then begin growing, picking up speed after the middle of 2014. The bank said overall world trade will grow by $1 trillion year-on-year to 2016.
HSBC predicts even stronger trade growth of 6.23% annually from 2017-2021.
“In 2011, U.S. exports grew an impressive 14.5%, with exports of U.S. manufactured goods reaching a record $1.27 trillion,” said Christopher Lewis, executive vice president at HSBC North America. “With the right focus and commitment, the U.S. and the businesses that drive its economy have the opportunity to surpass those marks if they manage their supply chains and do business with the best trading partners regardless of where they are located in the world.” Read more here.
EU at Stalemate on Canada’s Oilsands Ranking
(CBC News)
European Union vote on ‘fuel-quality directive’ moves up to full council debate
European Union officials are at a stalemate after voting on whether to classify Canada’s oilsands crude as more harmful to the environment than other fuels — a proposal that Canada would fight.
As a result, the proposal will move up to the European Council, which will vote on it in late spring or early summer.
“This is not the end of it,” the CBC’s Margo McDiarmid reported. “Instead, what happens is that this policy … will get bumped up to the EU Council. If the council does vote for the measure to declare Canada’s oilsands oil dirty, Canada will appeal to world trade bodies.” Read more here.
European Union vote on ‘fuel-quality directive’ moves up to full council debate
European Union officials are at a stalemate after voting on whether to classify Canada’s oilsands crude as more harmful to the environment than other fuels — a proposal that Canada would fight.
The ballot by experts from the EU’s 27 member countries, which are weighted by population, failed to produce the required 255 votes needed to approve the classification.
As a result, the proposal will move up to the European Council, which will vote on it in late spring or early summer.
“This is not the end of it,” the CBC’s Margo McDiarmid reported. “Instead, what happens is that this policy … will get bumped up to the EU Council. If the council does vote for the measure to declare Canada’s oilsands oil dirty, Canada will appeal to world trade bodies.” Read more here.
Transcore’s Canadian Freight Index Starts 2012 with Slight Uptick in January Results
(Canadian Transportation & Logistics)
TransCore’s Canadian spot market freight index saw a steady start to the new year with volumes increasing one percent from December while year over year it was off slightly by 1% from January 2011.
Intra-Canadian loads accounted for 28% of the volume. Top regions for loads within Canada were:
• Western 53%
• Ontario 23%
• Quebec 18%
• Atlantic 6%
Equipment postings in January increased 11% from the previous month; while year-over-year capacity was unchanged from January 2011.
The equipment-to-loads ratio increased from December, matching the volumes recorded in January 2011.
TransCore’s Loadlink freight matching database constitutes the largest Canadian network of carriers, owner operators, freight brokers and intermediaries and has been available to Canadian subscribers since its inception in 1990. Over 13 million full loads, LTL (less than truck load) shipments and trucks are posted to the Loadlink network annually. As a result of this high volume, TransCore believes its Canadian Freight Index is representative of the ups and downs in spot market freight movement and provides a historical account of the domestic and cross border spot market freight movement.
TransCore’s Canadian spot market freight index saw a steady start to the new year with volumes increasing one percent from December while year over year it was off slightly by 1% from January 2011.
Intra-Canadian loads accounted for 28% of the volume. Top regions for loads within Canada were:
• Western 53%
• Ontario 23%
• Quebec 18%
• Atlantic 6%
Equipment postings in January increased 11% from the previous month; while year-over-year capacity was unchanged from January 2011.
The equipment-to-loads ratio increased from December, matching the volumes recorded in January 2011.
TransCore’s Loadlink freight matching database constitutes the largest Canadian network of carriers, owner operators, freight brokers and intermediaries and has been available to Canadian subscribers since its inception in 1990. Over 13 million full loads, LTL (less than truck load) shipments and trucks are posted to the Loadlink network annually. As a result of this high volume, TransCore believes its Canadian Freight Index is representative of the ups and downs in spot market freight movement and provides a historical account of the domestic and cross border spot market freight movement.
Global Shipping Lines Grapple with Plunging Rates, Overcapacity and Faltering Recovery
(Canadian Transportation & Logistics – Leo Ryan)
Towards the end of an eventful 2011, global shipping lines were doing their utmost to adjust to spreading economic malaise, especially in eurozone countries reeling under a sovereign debt crisis and in a United States still buckling under a real estate meltdown. Amidst weak freight rates, overcapacity and mounting carrier losses, some industry analysts were predicting more consolidation in coming years.
The Canadian economy, for its part, is performing relatively well, although GDP growth forecasts for 2011 and 2012 have recently been revised downwards by various analysts to just above 2%.
Towards the end of an eventful 2011, global shipping lines were doing their utmost to adjust to spreading economic malaise, especially in eurozone countries reeling under a sovereign debt crisis and in a United States still buckling under a real estate meltdown. Amidst weak freight rates, overcapacity and mounting carrier losses, some industry analysts were predicting more consolidation in coming years.
The Canadian economy, for its part, is performing relatively well, although GDP growth forecasts for 2011 and 2012 have recently been revised downwards by various analysts to just above 2%.
Within such a volatile environment, world maritime trade will, nevertheless, again outpace average global GDP upward performance – thanks in large part to emerging countries led by a China still maintaining growth in the high single digits despite some slowdown. Demand, for example, from Chinese steel factories is continuing to fuel ocean exports of Canadian iron ore. Read more here.
Minister Fast Highlights Successes of Prime Minister Harper-led Trade Mission to China
(DFAIT)
Agreements signed will take the Canada-China trade and economic relationship to the next level
The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today highlighted in Vancouver to the Dawa Business Group Inc. and the Canada China Business Council the recent accomplishments of his visit to China, which was led by Prime Minister Stephen Harper. The Honourable Alice Wong, Minister of State (Seniors), and Wai Young, Member of Parliament for Vancouver South, also attended the event.
“I have just returned from an extremely successful trade mission to China,” said Minister Fast. “The agreements reached on this highly productive mission will take the Canada-China trade and economic relationship to the next level, as well as create jobs and prosperity for hardworking Canadians here at home.”
During the visit to China, Prime Minister Harper and China’s Premier Wen Jiabao witnessed the signing of new joint initiatives between the two countries, as well as the renewal of existing ones, in the areas of energy, the sustainable development of natural resources, education, science and technology, and agriculture.
One of the key announcements made during the visit concerned the conclusion of negotiations toward a foreign investment promotion and protection agreement (FIPA) between Canada and China. Minister Fast and his Chinese counterpart, Minister of Commerce Chen Deming, signed the Declaration of Intent for the FIPA during the visit. The agreement will contribute to jobs and growth by facilitating trade and investment flows between Canada and China. It will provide a more stable and secure environment for investors on both sides of the Pacific.
Other important announcements made during the Prime Minister’s visit to China that will strengthen the Canada-China commercial relationship include:
During his speech in Vancouver, the Minister also highlighted China and Canada’s renewal of a scholars’ exchange program. Over the years, education ties between Canada and China have expanded significantly. In 2010, over 60,000 Chinese students studied in Canada, representing close to 28 percent of international students in Canada and contributing almost $1.9 billion to the Canadian economy.
During the visit to China, Prime Minister Harper and China’s President Hu Jintao also agreed that, following the completion of a bilateral economic complementarities study in May 2012, Canada and China will proceed to exploratory discussions on deepening trade and economic relations.
Canadian merchandise trade exports to China grew by 26.9 percent in 2011 and totalled almost $17 billion. Imports from China totalled $48.1 billion, an increase of 8.1 percent over 2010. China is one of the world’s fastest-growing major economies and is now Canada’s second-largest individual merchandise trading partner. Canadian investment in China reached its highest level ever at the end of 2010, standing at almost $5 billion, an increase of 38 percent over 2009. Chinese foreign direct investment in Canada increased by almost 10 percent in the same period, reaching $14.1 billion in 2010.
Finally, to further promote Canada as a tourist destination in China, on February 8, 2012, Prime Minister Harper officially launched the Canadian Tourism Commission’s 2012 tourism marketing campaign in Beijing. Since being granted Approved Destination Status by China in December 2009, Canada has seen a significant increase in the number of Chinese visitors. Over the past year, Canada has welcomed approximately 24 percent more Chinese visitors than it did in the previous year.
Agreements signed will take the Canada-China trade and economic relationship to the next level
The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today highlighted in Vancouver to the Dawa Business Group Inc. and the Canada China Business Council the recent accomplishments of his visit to China, which was led by Prime Minister Stephen Harper. The Honourable Alice Wong, Minister of State (Seniors), and Wai Young, Member of Parliament for Vancouver South, also attended the event.
“I have just returned from an extremely successful trade mission to China,” said Minister Fast. “The agreements reached on this highly productive mission will take the Canada-China trade and economic relationship to the next level, as well as create jobs and prosperity for hardworking Canadians here at home.”
During the visit to China, Prime Minister Harper and China’s Premier Wen Jiabao witnessed the signing of new joint initiatives between the two countries, as well as the renewal of existing ones, in the areas of energy, the sustainable development of natural resources, education, science and technology, and agriculture.
One of the key announcements made during the visit concerned the conclusion of negotiations toward a foreign investment promotion and protection agreement (FIPA) between Canada and China. Minister Fast and his Chinese counterpart, Minister of Commerce Chen Deming, signed the Declaration of Intent for the FIPA during the visit. The agreement will contribute to jobs and growth by facilitating trade and investment flows between Canada and China. It will provide a more stable and secure environment for investors on both sides of the Pacific.
Other important announcements made during the Prime Minister’s visit to China that will strengthen the Canada-China commercial relationship include:
- the Memorandum of Understanding on Sustainable Development of Natural Resources, which will provide a platform to promote Canadian expertise, technologies and services in that area;
- the renewal of the Memorandum of Understanding on Energy Cooperation, which will attract capital investment and improve access to Chinese markets for Canada’s energy resources, technology and related services;
- initiatives on agriculture that clear the way for access to the lucrative Chinese beef tallow market, for joint research that will aim to create a stable trading environment for Canadian canola seed in China and for additional collaboration to resolve agricultural market-access issues of mutual interest;
- the statement of intent to launch two new calls for proposals for joint research and development projects under the Canada-China Framework Agreement for Cooperation on Science, Technology and Innovation, as well as the announcement of results for a previous call for project proposals; and
- the successful completion of negotiations between Canada and China on an agreement that will facilitate increased exports of Canadian uranium to China.
During his speech in Vancouver, the Minister also highlighted China and Canada’s renewal of a scholars’ exchange program. Over the years, education ties between Canada and China have expanded significantly. In 2010, over 60,000 Chinese students studied in Canada, representing close to 28 percent of international students in Canada and contributing almost $1.9 billion to the Canadian economy.
During the visit to China, Prime Minister Harper and China’s President Hu Jintao also agreed that, following the completion of a bilateral economic complementarities study in May 2012, Canada and China will proceed to exploratory discussions on deepening trade and economic relations.
Canadian merchandise trade exports to China grew by 26.9 percent in 2011 and totalled almost $17 billion. Imports from China totalled $48.1 billion, an increase of 8.1 percent over 2010. China is one of the world’s fastest-growing major economies and is now Canada’s second-largest individual merchandise trading partner. Canadian investment in China reached its highest level ever at the end of 2010, standing at almost $5 billion, an increase of 38 percent over 2009. Chinese foreign direct investment in Canada increased by almost 10 percent in the same period, reaching $14.1 billion in 2010.
Finally, to further promote Canada as a tourist destination in China, on February 8, 2012, Prime Minister Harper officially launched the Canadian Tourism Commission’s 2012 tourism marketing campaign in Beijing. Since being granted Approved Destination Status by China in December 2009, Canada has seen a significant increase in the number of Chinese visitors. Over the past year, Canada has welcomed approximately 24 percent more Chinese visitors than it did in the previous year.
Brand India Expo 2012 Takes Place in Ottawa – March 13-14
(Canada Asia News)
An exhibit entitled Brand India Expo 2012, organized by the High Commission of India in Ottawa and India’s Trident Exhibitions Pvt. Ltd., will take place at the Ottawa Convention Centre from March 13 to 14.
This multi-product exhibit and seminar will bring together industry experts to discuss projects and pursue investment opportunities to enhance bilateral trade for Canada and India. The exhibit is supported by the Governments of India and Canada.
An exhibit entitled Brand India Expo 2012, organized by the High Commission of India in Ottawa and India’s Trident Exhibitions Pvt. Ltd., will take place at the Ottawa Convention Centre from March 13 to 14.
This multi-product exhibit and seminar will bring together industry experts to discuss projects and pursue investment opportunities to enhance bilateral trade for Canada and India. The exhibit is supported by the Governments of India and Canada.
February 22, 2012
Canada, India Conclude Latest FTA Talks
(Tax-News – Mike Godfrey)
Canada and India hope to complete negotiations on a comprehensive economic partnership agreement in 2013, ministers say, as the latest round of trade talks concludes. The two countries held the fourth round of trade negotiations in Delhi from February 13-16, with Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, and Bal Gosal, Minister of State (Sport), welcoming the news.
Gosal highlighted the importance of the trade talks at Brar Sweets, a small to medium-sized enterprise (SME) in Brampton, Ontario. It is businesses such as this that government says will benefit from deeper trade and investment ties with India. The Minister also held a pre-Budget consultation and reiterated the Harper government’s commitment to deepening Canada’s trade ties in high-growth markets around the world. Read more here.
Canada Threatens Trade War with EU over Tar Sands
(The Guardian – Damian Carrington)
The row over the EU’s plan to label tar sands oil as highly polluting escalates as Canada says it ‘will not hesitate to defend its interests’
Canada has threatened a trade war with European Union over the bloc’s plan to label oil from Alberta’s vast tar sands as highly polluting, the Guardian can reveal, before a key vote in Brussels on 23 February.
“Canada will not hesitate to defend its interests, including at the World Trade Organisation,” state letters sent to European commissioners by Canada’s ambassador to the EU and its oil minister, released under freedom of information laws.
The move is a significant escalation of the row over the EU’s plans, which Canada fears would set a global precedent and derail its ability to exploit its tar sands, which are the biggest fossil fuel reserve in the world after Saudi Arabia. Environmental groups argue that exploitation of the tar sands, also called oil sands, is catastrophic for the global climate, as well as causing serious air and water pollution in Alberta. Read more here.
The row over the EU’s plan to label tar sands oil as highly polluting escalates as Canada says it ‘will not hesitate to defend its interests’
Canada has threatened a trade war with European Union over the bloc’s plan to label oil from Alberta’s vast tar sands as highly polluting, the Guardian can reveal, before a key vote in Brussels on 23 February.
“Canada will not hesitate to defend its interests, including at the World Trade Organisation,” state letters sent to European commissioners by Canada’s ambassador to the EU and its oil minister, released under freedom of information laws.
The move is a significant escalation of the row over the EU’s plans, which Canada fears would set a global precedent and derail its ability to exploit its tar sands, which are the biggest fossil fuel reserve in the world after Saudi Arabia. Environmental groups argue that exploitation of the tar sands, also called oil sands, is catastrophic for the global climate, as well as causing serious air and water pollution in Alberta. Read more here.
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