Canada – Pacific Alliance Free Trade Agreement

The Pacific Alliance countries (Chile, Colombia, Mexico, and Peru) comprise over 230 million consumers and constitute an important strategic market with a combined real GDP of $ 2.8 trillion (2020). In June 2017, the Pacific Alliance invited Canada, along with Australia, New Zealand and Singapore, to become Associated States, which requires each candidate Associated State to negotiate an FTA with the Pacific Alliance. In October 2017, Canada and the Pacific Alliance launched negotiations toward a comprehensive free trade agreement (FTA). Eight negotiating rounds have been held to date, most recently in November 2019. Canada has comprehensive and ambitious bilateral FTAs with all four Pacific Alliance members. An FTA with the Pacific Alliance countries as a group would offer the possibility to modernize and streamline our existing trade agreements with the Pacific Alliance countries, achieve incremental market access improvements where possible, promote an inclusive approach to trade, and reiterate the importance of a rules-based trading system at a time of growing protectionism.