The ambassador of Canada gave a lecture at lecture for students. PHOTO: Manuel Castells

Graham Shantz, Canada's ambassador to Spain and Andorra, pointed out at a lecture for students at the University of Navarra the role his country is playing, "working together with other nations in forums such as the G8 and G20 to find practical and lasting solutions" to the current economic crisis.

For this reason, "the agreement with the European Union at subject represents for us the most ambitious trade initiative since the North American Free Trade Agreement". In fact, a joint study has shown "that it could lead to a €26 million boost in our bilateral trade, with significant benefits for the GDP of both sides."

In his speech, he explained that for the North American country, whose gross domestic product is closely linked to international trade, it was essential to find solutions at both the national and international levels, and that thanks to these solutions, "Canada is currently the least indebted country in the G7 and, according to the IMF, it is the one that will grow the most between now and 2012".
Canada also has one of the largest banking sectors in the world, and none of its large financial institutions went bankrupt or required financial aid from the government during this crisis. "Hence the World Economic Forum, in its annual report on international competitiveness, has declared for the third year in a row that the Canadian banking system is the strongest in the world. And that Global Finance magazine notes that 6 of the 50 safest banks are Canadian." According to Shantz, "strong and transparent but not excessive regulation" of the financial sector allowed promote prudent behavior in the long term deadline.

Quality of universities and mobility

Finally, he explained that another advantage Canada has had in this economic crisis is its commitment to fostering lasting economic growth, based on the creation of quality jobs. In addition to growing economically, Canada has as goal developing the quality of its universities and the diversity of its students and professionals.
"For this reason, we signed in 2009 a agreement with Spain on the mobility of young people, which allows people aged 18 to 35 to obtain the necessary permission to live, study and work for a full year in the country." These agreements provide young people with "an international experience," he said, addressing the attendees, and "also allow Canadian employers to hire employees who enrich the quality and diversity of their companies."