Prime Minister Stephen Harper and Yoshihiko Noda, Prime Minister of Japan, today announced the launch of negotiations towards a free trade agreement that will deepen the trade and investment ties between Canada and Japan. The announcement was made during an official visit to Japan by Prime Minister Harper, where he was joined by Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway.
“Our Government is creating jobs, growth and long-term prosperity for all Canadians through increased trade,” said Prime Minister Harper. “A free trade agreement with Japan — a powerful G-8 economy and respected Asia-Pacific partner — would strengthen the Canadian economy by generating billions of additional dollars in commercial flows between our two countries.”
The free trade agreement negotiations build on a recently released Canada-Japan Joint Study which estimates that such an agreement could mean gains of up to $3.8 billion a year in Canadian gross domestic product, with Canadian exports to Japan increasing by as much as 67 percent. The Government will continue to engage stakeholders to ensure that their interests and concerns are taken into account during the course of the negotiations.
In less than six years, Canada has concluded free trade agreements with nine countries: Colombia, Honduras, Jordan, Panama, Peru and the European Free Trade Association states of Iceland, Norway, Switzerland and Liechtenstein. It is also in negotiation with many others, including India, the European Union and now, Japan.
