Today, the Honourable François-Philippe Champagne, Minister of International Trade, will take part in the sixth Australia-Canada Economic Leadership Forum, in Montréal, Quebec. The forum is one of the premier events that underpin Canada-Australia commercial relations, attracting major business and political leaders from across Australia and Canada.

“Canada and Australia share a strong and diversified commercial relationship, driven by an increase in investment and two-way trade in goods and services. When the Comprehensive and Progressive Agreement for Trans-Pacific Partnership enters into force, Canada will build on its existing trade to diversify further into the Australian market and throughout the fast-growing Asia-Pacific region.”

- François-Philippe Champagne, Minister of International Trade

• Australia is the eighth-largest destination for Canadian direct investment abroad, and by far the largest destination in the Asia-Pacific region ($27.8 billion in 2017).

• Australia is the 12th-largest source of foreign direct investment in Canada ($11.5 billion in 2017), and fourth-largest source from the Asia-Pacific region. The stock of Australian direct investment in Canada has increased by 123% since 2013.

• The CPTPP represents a trading bloc of 11 countries with a total of almost 500 million people and a combined GDP of $13.5 trillion, or 13.5% of global GDP.

• Among the benefits to Canadian companies provided by the CPTPP are duty-free trade in goods between Canada and Australia, and the elimination of tariffs for key Canadian exports including agricultural and forest products.

Associated links

• CPTPP partner: Australia
• Trade Commissioner Service - Australia

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