The United States and Canada need to make cross-border trade easier, not harder, Canada’s minister of industry told a Denver audience Monday.
“NAFTA is one of history’s most successful trade partnerships,” said Jim Prentice, who was appointed to his post in August. “We value NAFTA.”
Heated debate during the Democratic presidential primaries about free trade and the North American Free Trade Agreement has raised concerns in Canada and Mexico.
The real competition isn’t between the U.S. and Canada, or the U.S. and Mexico, but between North America and other regions of the world, Prentice said.
About 40 percent of Colorado exports head to either Canada or Mexico. The $4 billion in trade between Colorado and Canada contributes about 125,000 jobs in the state, he said.
Canada is the largest supplier of energy to the U.S., and high commodity prices have contributed to a boom in Canada’s economy.
A stronger Canadian dollar has made it more attractive for Canadian companies to invest in the U.S., and EnCana and Suncor have established significant operations in Colorado. “More and more Canadian businesses see Denver as their platform for the U.S.,” Prentice said.
Prentice’s visit represents the first official one to Colorado by a Canadian minister since the country opened a consulate office in Denver four years ago.
Prentice met with executives of Denver- based U.S. and Canadian companies and will meet with Gov. Bill Ritter today.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com
