October 5, 2015 - Ottawa, Ontario - The Government of Canada today announced that the members of the Trans-Pacific Partnership (TPP) have successfully concluded negotiations on a free trade agreement that will benefit Canada’s economy.
The TPP agreement will give Canada preferential access to dynamic and growing Asia-Pacific markets. Tariffs and other barriers faced by a wide range of Canadian products from various sectors will be cut; these sectors include agriculture and agri-food, fish and seafood, forestry and value-added wood products, metals and mining, and manufactured industrial goods.
The agreement will also provide improved access in areas such as financial, professional, architectural and engineering, research and development, environmental, construction and transportation services.
The Government of Canada also announced a new, comprehensive set of programs and initiatives to benefit and support supply-managed producers and processors throughout the implementation of the TPP. In the TPP, the government successfully protected the three pillars of Canada’s supply management system, which will remain intact.
The TPP, for the first time in a Canadian free trade agreement, will have a dedicated chapter with specific measures to assist small and medium-sized enterprises (SMEs) to help them take full advantage of the opportunities this agreement will create. This reflects the Government of Canada’s commitment to significantly increasing the number of Canadian SMEs exporting to emerging markets.
The largest trading bloc in the world, the TPP will deepen Canada’s trading relationships with dynamic and fast-growing markets in the Asia-Pacific region, as well as strengthen Canada’s traditional partnerships in the Americas. The TPP will strategically set the terms of trade in this important region. As a founding member of the concluded TPP, Canada will have a deciding voice as additional countries seek membership in the “open architecture” agreement.
This trade agreement bolsters Canada’s strategic position in the global economy. The TPP and trade agreements with the European Union and South Korea make Canada the only G-7 nation with free trade access to the United States and the Americas, Europe and the Asia-Pacific region.
Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
Follow us on Twitter: @CanadaTrade
Like us on Facebook: Canada’s International Trade Plan-DFATD
