Minister Carr leads trade mission to Japan and South Korea to promote canola exports
June 4, 2019 - Ottawa, Ontario - Global Affairs Canada
The Government of Canada is standing shoulder-to-shoulder with Canadian farmers and farm families. Canada is expanding sales for its high-quality agricultural products, including canola, in alternative markets and supporting new and existing business partnerships in the Asia-Pacific region.
The Honourable Jim Carr, Minister of International Trade Diversification, will lead a trade mission to Japan and South Korea to promote Canadian canola exports and to continue to tap into alternative markets and find new customers for Canadian agricultural products. The trade mission will coincide with the G20 Ministerial Meeting in Tsukuba, Japan, where the Minister will continue to champion open, predictable and non-discriminatory trade. The G20 provides a meaningful forum to discuss key issues of importance to global trade and investment.
In Japan, the Minister will meet with Minister Toshimitsu Motegi, his counterpart on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to discuss export opportunities created by the agreement in both countries. Minister Carr will address the Japanese Grain Importers Association and engage with representatives in the oilseeds industry, further building on Canada and Japan’s strong trading relationship, which currently includes substantial imports of Canadian canola, wheat and barley.
In South Korea, the Canadian delegation will meet with industry stakeholders and companies, such as Lotte Mart, that have seized business opportunities offered by the Canada-Korea Free Trade Agreement (CKFTA). The Minister will also meet with his counterpart Yoo Myung-hee, Minister for Trade, to discuss Canada’s trade diversification strategy.
“This trade mission to Japan and South Korea is part of the Government of Canada’s ongoing effort to sell high-quality Canadian canola and other agricultural products to alternative markets. We are focused on opening doors, providing on-the-ground support so that companies can compete and succeed on the international playing field, and creating business-to-business connections for Canadian producers, companies and provinces looking to expand into these thriving Asian markets.”
- Jim Carr, Minister of International Trade Diversification
The canola industry contributes almost $27 billion and 250,000 jobs to the Canadian economy.
In 2018, Canada exported more than $11 billion in canola products to over 50 markets.
According to the Canola Council of Canada, the CPTPP is expected to result in $780 million worth of new canola exports.
Canada’s canola oil exports to Japan enjoy preferential tariff treatment under CPTPP. Tariffs on canola oil will be progressively eliminated by 2023.
Japan is Canada’s third-largest trading partner in agriculture and food.
South Korea is the third-most-valuable market for Canadian canola oil exports. South Korean imports of canola oil from Canada in 2018 were more than double the value of exports in 2014 before the CKFTA came into effect.
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