PM participates in a question and answer session hosted by the Mississauga and Brampton boards of trade

News Release

Brampton, Ontario
2 October 2014

Introduction

Prime Minister Stephen Harper today participated in a moderated question and answer (Q&A) session with members of both the Mississauga and Brampton boards of trade. The session took place at Millennium Gardens in Brampton and was moderated by Paul Woolford, Chair of the Mississauga Board of Trade. The Prime Minister was joined by Kyle Seeback, Member of Parliament for Brampton West.

During the Q&A session, the Prime Minister discussed the economy and measures that the Government is taking to help Canadian businesses succeed both at home and abroad, and allowing them to create jobs. Some of the measures that were highlighted included support for Canadian manufacturers in Economic Action Plan 2014, tax reduction, the elimination of unnecessary regulatory burdens, the Canada Job Grant, and the recently announced Small Business Job Credit.

The Prime Minister also underscored the Government’s unprecedented efforts to increase Canadian businesses’ access to international markets, including through the Canada–European Union Trade Agreement and the Canada–Korea Free Trade Agreement, which will greatly benefit Canadian businesses from a wide range of sectors across Canada, including the high–tech and manufacturing sectors in Ontario.

Quick Facts

Canadian businesses are the backbone of the Canadian economy, generating jobs, economic growth and long–term prosperity. That is why our Government is ensuring that they have the tools and opportunities they need to remain globally competitive, prosperous and successful.
The Canada–European Union Trade Agreement is by far the most ambitious trade agreement that Canada has ever reached, covering most aspects of the Canada–European Union (EU) bilateral economic relationship, including trade in goods and services, investment, and government procurement. It also grants the flexibility to include areas of mutual interest beyond those that have traditionally been included in Canada's trade agreements, such as regulatory cooperation. The EU is the world’s largest integrated economy, with more than 500 million consumers and an annual GDP of $18 trillion.
A joint study conducted with the EU concluded that the Canada–European Union Trade Agreement could boost Canada’s income by $12 billion annually and bilateral trade by 20 per cent, which will create tens of thousands of new jobs.
Ontario stands to benefit significantly from this preferred access to the EU market. The EU is already Ontario’s second–largest export destination and trading partner. When the Canada–European Union Trade Agreement comes into force, it will eliminate tariffs on almost all of Ontario’s key exports and provide access to new market opportunities in the EU. Exporters in these sectors will also benefit from other provisions that will improve conditions for export provisions.
As Canada’s largest city – approximately 5.5 million in the Greater Toronto Area (GTA) – and a hub of national manufacturing activity, Toronto stands to benefit enormously from the Canada–EU Trade Agreement. The sectors that will benefit the most in the GTA include manufacturing, professional, scientific and technical services. Toronto families will also benefit from greater access to European goods at lower costs given 98 per cent of EU tariff lines will be removed immediately upon implementation of this agreement.
Manufacturing, professional, scientific and technical services account for an estimated 23 per cent of the share of overall employment in the GTA. Manufacturing industries that stand to benefit include food processing, automotive and machinery.
The Canada–Korea Free Trade Agreement will provide Canadian businesses and workers with unprecedented access to the Republic of Korea, which has an annual GDP of $1.3 trillion and a population of 50 million people. When the Agreement is fully implemented, Korea will remove duties on 98.2 per cent of its tariff lines covering virtually all of Canada’s imports. The Canada–Korea Free Trade Agreement is projected to increase exports by 32 per cent and boost the Canadian economy by $1.7 billion annually.
Ontario stands to benefit significantly from preferred access to the Korean market. The agreement will make Canadian exports more competitive in the Korean market by levelling the playing field for Ontario businesses that are competing against exporters from countries that already have preferential access.
Since July 2009, employment in Canada has increased by over 1.1 million and is more than 675,000 above its pre–recession peak, resulting in one of the strongest job creation records in the G–7 over the recovery. Over 80% of all jobs created since July 2009 have been in full–time positions, roughly 80% are in the private sector, and over 65% are in high–wage industries.

Quotes

“I was pleased to have the opportunity today to discuss the many measures that our Government is taking to support the Canadian economy, including expanding our trade with new markets around the world through free trade agreements such as the Canada–European Union Agreement and the Canada–Korea Free Trade Agreement. These significant steps demonstrate our commitment to giving Canadian businesses, investors and exporters the tools and opportunities they need to compete and win in the global marketplace while creating jobs and opportunities across our country.”
– Prime Minister Stephen Harper

“Today’s meeting with various business representatives from the Greater Toronto Area provided an excellent opportunity to discuss how we can work together towards an even brighter economic future for Ontario and Canada.”
– Prime Minister Stephen Harper

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PM participates in a question and answer session hosted by the Mississauga and Brampton boards of trade

News Release

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