Canada joins Trans-Pacific Partnership trade talks - Action News
Home WebMail Wednesday, November 13, 2024, 05:02 AM | Calgary | 0.6°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
Politics

Canada joins Trans-Pacific Partnership trade talks

Ottawa officially enters talks to create a vast trading zone in the Pacific that the government hopes will boost the fortunes of Canadian exporters.

Talks on a Pacific trade deal involve 11 countries

International Trade Minister Ed Fast confirmed Tuesday Canada has formally joined Trans-Pacific Partnership trade talks. (Canadian Press)

The federal government has announced it has formally joined talks on the Trans-Pacific Partnership, a vast trade deal that Ottawa hopes will open new markets to Canadian exports.

Negotiations on the Trans-Pacific Partnershipor TPPinvolve 11countrieswith a combined population of 658 million people and combined GDP of $20.5 trillion:

  • Australia.
  • Brunei.
  • Chile.
  • Malaysia.
  • New Zealand.
  • Peru.
  • Singapore.
  • Vietnam.
  • Mexico.
  • United States.
  • Canada.

Canada had lobbied to join the talks for several months and was invited along with Mexicoto take part in June.

A 90-day notification period imposed by the U.S. Congress expired on Monday, and other member governments had to approve Canada and Mexico's invitations to the talks, whichhave been under way for more than 2 years.

International Trade Minister Ed Fast, who is leading a trade mission to the Middle East this week, confirmed Tuesday that Canada has now joined the negotiations. In a written statement, Fast called the TPP "a 21st-century agreement that advances Canadian interests."

Othersare less enthusiastic. Critics of the TPP worrythat Canada's supply management system,which protects dairy and poultry farmers, couldbe at risk under thedeal.

There are also concerns that, because Canada is coming to the negotiating table late, it will have no say over provisions in theagreement that have already been agreed to by other countries.

"We're negotiating with one arm tied behind our backs," said Peggy Nash, finance critic for the opposition NDP.

As Ottawa enters the TPP talks, it continues to pursue a free trade deal with the European Union. Canada has also begun bilateraltrade talks with Japan, India, Thailand, Singapore and several other countries.