Deeper trade with the European Union will bring good jobs, growth and long-term prosperity to hard-working Nova Scotians, says Gerald Keddy
April 27, 2012 - The Honourable Gerald Keddy, Parliamentary Secretary to the Minister of International Trade, for the Atlantic Canada Opportunities Agency and for the Atlantic Gateway, today joined federal ministers across the country in highlighting the benefits of a potential trade agreement with the European Union. Mr. Keddy held an event at a local business in Nova Scotia’s important shipping sector to highlight the benefits a Canada-EU trade agreement would generate for Canadian workers and their families.
“The Port of Halifax alone generates more than 11,000 jobs and $1.5 billion in economic impact,” said Mr. Keddy at the Port of Halifax. “It is Canada’s gateway to Europe, as the deepest and closest mainland port in North America to the lucrative European market. A Canada-EU trade agreement will produce success for this critical sector and directly benefit workers and families here in Nova Scotia.”
The Honourable Peter MacKay, Minister of National Defence, also commented on the benefits of an ambitious Canada-EU trade agreement on the Nova Scotia aerospace sector.
“Our government is focused on jobs, growth and long-term prosperity. An ambitious agreement with the European Union will be a big win for Nova Scotia’s workers and businesses,” said Minister MacKay. “In our province, some 2,300 Nova Scotians work in the aerospace sector. Greater access to the lucrative EU market would increase sales of Nova Scotia’s world-class industrial products, including aerospace parts, resulting in more jobs, higher wages and greater long-term prosperity for Nova Scotians.”
“More than 60 percent of Canada’s annual income (gross domestic product) and the jobs of one in five Canadians are generated by trade,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, in a keynote address today to the Economic Club of Canada in Ottawa. The Minister’s address was among several events being held across the country to highlight the benefits of the Canada-EU trade agreement currently under negotiation.
“An ambitious trade agreement with the European Union would generate significant benefits for hard-working Canadians in every region of our country,” said Minister Fast. “It would bring a 20‑percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. That translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new jobs.”
The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of over $17 trillion. The ongoing trade negotiations with the EU represent Canada’s most significant trade initiative since the historic North American Free Trade Agreement.
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A backgrounder detailing the benefits for Nova Scotia of a potential Canada-EU trade agreement follows.
For further information, media representatives may contact:
Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
613-992-7332
Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000
Follow us on Twitter: @Canada_Trade
An ambitious trade agreement with the European Union would be of significant benefit to Canada, resulting in a 20-percent boost in bilateral trade and a $12-billion increase in Canada’s annual income (gross domestic product).
That translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new Canadian jobs—which is like adding five times the number of jobs currently in the cities of New Glasgow to the Canadian economy.
Many of Nova Scotia’s key sectors would benefit from an ambitious Canada-EU trade agreement (CETA):
