Minister Champagne highlights benefits of Comprehensive and Progressive Agreement for Trans-Pacific Partnership
January 29, 2018 - Ottawa, Ontario - Global Affairs Canada
Diversifying Canada’s trade relationship with the fast-growing Asia-Pacific region is central to a progressive trade agenda and to the good, well-paying middle-class jobs that it will create.
On January 23, 2018, the Honourable François-Philippe Champagne, Minister of International Trade, announced that Canada and 10 members of the Trans-Pacific Partnership had concluded discussions on a new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). From making machinery, equipment and business services more competitive, to protecting and preserving Canada’s unique culture, the CPTPP will benefit all Canadians by providing Canadian businesses with preferential market access to what will be one of the largest trading blocs in the world. The CPTPP will benefit a wide range of sectors and industries across Canada, from agriculture, automobiles, beef and seafood to forestry products.
Sector-based fact sheets and frequently asked questions (FAQs) are now available on the Global Affairs Canada website to help explain why the agreement is important to Canada and Canadian workers and how key industries will benefit. The CPTPP will help Canadian businesses create good, middle-class jobs, including in the automotive, cultural, intellectual property, broad labour and agricultural sectors, to name a few.
Beginning in November 2015, the Government of Canada conducted extensive consultations with Canadians on the TPP and a potential CPTPP. The consultations included interactions with more than 650 stakeholders from across Canada, including businesses, associations, unions, farmers, students, Indigenous groups, civil society organizations and academics. The consultations helped inform the government’s negotiating position.
In addition to listening to the views of a broad range of stakeholders in the lead-up to the CPTPP, the Government of Canada has continued to articulate the significant benefits that the agreement will deliver by holding a series of round tables with industry leaders.
“Our government stood up for Canadian interests, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership meets our objectives of creating and sustaining growth, prosperity and well-paying middle-class jobs today and for generations to come. We wanted a good deal, and that’s what we got. By securing key concessions on intellectual property and culture, making improvements on automotive-industry issues, and preserving and protecting key labour rights, we delivered important gains for Canada and for Canadians.”
- François-Philippe Champagne, Minister of International Trade
The CPTPP will be one of the largest trading blocs in the world, with 11 member countries. CPTPP countries represent 495 million people and have a combined GDP of $13.5 trillion, or 13.5% of global GDP.
Canadian imports from and exports to the 10 other CPTPP countries accounted, respectively, for $72.5 billion and $31.5 billion in 2016.
The CPTPP will also mean that Canada will have a free trade agreement with all of the G7 countries.
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