Canadian Minister of International Trade Francois-Philippe Champagne (Source: AFP) Ottawa (VNA) –Canadian Minister of International Trade Francois-Philippe Champagne hasintroduced legislation in the House of Commons for the implementation of theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Champagne affirmed that the Government of Canada is committed todiversifying and expanding market access opportunities that will help Canadianbusinesses grow and create job opportunities for hard-working Canadians, agovernment official said on June 17.
According to the minister, the CPTPP will provide Canadianexporters and investors across a broad range of sectors with preferentialaccess to fast-growing markets in the Asia-Pacific region, including Japan,Malaysia and Vietnam.
The CPTPP also containsthe first-ever chapter devoted to small and medium-sized businesses, making iteasier for them to export, grow their companies and create good middle-classjobs.
The CPTPP will set a new standard for free trade agreements inthe Asia-Pacific region by including robust and enforceable provisions in areassuch as labour and the environment. The Agreement will enter into force 60 daysafter at least six of the partner countries complete their respectiveratification procedures.
The CPTPP, along with theNorth American Free Trade Agreement (NAFTA) and free trade agreements with theEuropean Union (Comprehensive Economic and Trade Agreement) and the Republic ofKorea, will make Canada the only G7 nation with free trade access to theAmericas, Europe and the Asia-Pacific region.
The CPTPP represents atrading bloc of 11 countries, namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singaporeand Vietnam, with almost 500 million people and a combined GDP of 13.5trillion USD, or 13.5 percent of global GDP.
In2017, Canada’s merchandise trade with the 10 other CPTPP countries amounted tomore than 95 billion USD.
TheCPTPP was signed on March 8, 2018, in Santiago, Chile. Once it enters intoforce, the CPTPP is expected to boost Canada's GDP by 4.2 billion USD.-VNA
Champagne affirmed that the Government of Canada is committed todiversifying and expanding market access opportunities that will help Canadianbusinesses grow and create job opportunities for hard-working Canadians, agovernment official said on June 17.
According to the minister, the CPTPP will provide Canadianexporters and investors across a broad range of sectors with preferentialaccess to fast-growing markets in the Asia-Pacific region, including Japan,Malaysia and Vietnam.
The CPTPP also containsthe first-ever chapter devoted to small and medium-sized businesses, making iteasier for them to export, grow their companies and create good middle-classjobs.
The CPTPP will set a new standard for free trade agreements inthe Asia-Pacific region by including robust and enforceable provisions in areassuch as labour and the environment. The Agreement will enter into force 60 daysafter at least six of the partner countries complete their respectiveratification procedures.
The CPTPP, along with theNorth American Free Trade Agreement (NAFTA) and free trade agreements with theEuropean Union (Comprehensive Economic and Trade Agreement) and the Republic ofKorea, will make Canada the only G7 nation with free trade access to theAmericas, Europe and the Asia-Pacific region.
The CPTPP represents atrading bloc of 11 countries, namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singaporeand Vietnam, with almost 500 million people and a combined GDP of 13.5trillion USD, or 13.5 percent of global GDP.
In2017, Canada’s merchandise trade with the 10 other CPTPP countries amounted tomore than 95 billion USD.
TheCPTPP was signed on March 8, 2018, in Santiago, Chile. Once it enters intoforce, the CPTPP is expected to boost Canada's GDP by 4.2 billion USD.-VNA
VNA
