PM meets with members of the Canadian-Korean community in Burnaby

News Release

Burnaby, British Columbia - 12 March 2014

Introduction

Prime Minister Stephen Harper today met with local business owners, families and other members of the Canadian-Korean community at a reception in Burnaby, British Columbia. The Prime Minister was joined by Senator Yonah Martin.

During the reception, the Prime Minister discussed the benefits of the recently announced Canada-Korea Free Trade Agreement (CKFTA), and highlighted the strong and enduring relationship that the two countries enjoy.

The Free Trade Agreement, Canada’s first with an Asian market, will create thousands of new jobs in Canada and provide Canadian businesses and workers with a gateway to Asia, enhancing their global competitiveness.

In British Columbia, workers and businesses in key economic sectors – including those in forestry and agricultural industries, professional services and investment – stand to benefit significantly from preferred access to the Korean market.

Quick Facts

Canada and the Republic of Korea marked the 50^th anniversary of diplomatic relations in 2013. The two countries share strong people-to-people linkages, stemming from historical connections, including Canada’s participation in the Korean War, increasing immigration and tourism flows, and academic exchanges.
2013 was designated as the Year of Korea in Canada and the Year of Canada in Korea.
Korea is already British Columbia’s fourth-largest trading partner. In fact, 50 per cent of all Canadian exports to Korea are from British Columbia. B.C.’s exports to Korea from 2010 to 2012 were worth an annual average of $2.17 billion.
The CKFTA will provide Canadian businesses and workers with unprecedented access to Korea, which has an annual GDP of $1.1 trillion and a population of 50 million people.
The Agreement is projected to increase exports by 32 per cent and boost the Canadian economy by $1.7 billion annually.
In less than seven years, Canada has concluded free trade agreements with nine countries and is negotiating with 30 more. A notable achievement in this effort was the historic agreement in principle with the 28-nation European Union, announced in October 2013. With 500 million people and an annual economic activity of almost $17 trillion, the European Union is the world’s largest economy.
Once the CKFTA and the Canada-EU Trade Agreement are in force, Canada will have free trade access to nearly a quarter of the countries in the world, representing more than half of the world’s gross domestic product.

Quote

“Canada and Korea enjoy excellent bilateral relations based on close personal ties and important commercial links. The Canada-Korea Free Trade Agreement will help strengthen the longstanding and vibrant relationship between our two great countries, as well as create jobs and opportunities here at home and in Korea.”
– Prime Minister Stephen Harper

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PM meets with members of the Canadian-Korean community in Burnaby

News Release

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