Valuable first-mover advantage is at stake for Canadian agri-food in new Asian Markets
Ottawa, Ontario - The Canadian Agri-Food Trade Alliance (CAFTA) welcomes the recent
announcement by Canada’s Prime Minister Justin Trudeau that legislation to implement the
Comprehensive Progressive agreement for Trans-Pacific Partnership (CPTPP) will be tabled before the
summer recess, and is calling on all Parliamentarians to remain in Ottawa to pass the bill before the
summer break.
“We’ve got unprecedented instability in North America and a chance to have a first mover advantage in
Asia - now is the perfect time to lock down our access to growing Asia-Pacific markets,” says CAFTA
President Brian Innes. “We urge Parliamentarians in both Houses to pass CPTPP legislation before the
summer break.”
Mexico has already ratified the deal, Japan is expected to do so within days and others including
Australia, Chile, New Zealand and Vietnam are likely to soon follow suit. Major trade barriers will be
eliminated across the fast-growing Asia-Pacific region once the first six countries ratify. Canada is the
second largest economy at the table after Japan and has the opportunity to play a leadership role.
“The first-mover advantage is real in trade deals and Canada cannot afford to be left behind our
competitors,” says Innes. “Thousands of jobs and billions in agri-food exports are at stake. It’s imperative
that our Parliamentarians come together and act swiftly to get this done.”
According to research commissioned by CAFTA, this trade pact could increase Canadian agri-food exports
by nearly $2 billion annually for a variety of agriculture products including beef, pork, canola, wheat,
barley and oats, pulses, soybeans, sugar and processed foods.
“With continued uncertainty due to Trump protectionism, better access to high-value, growing markets is
more important than ever,” says Innes.
CAFTA members, including farmer and food processors contribute $96 billion to Canada’s economy
annually and support one million jobs in urban and rural areas in every region of the country.
Source : CAFTA-ACCA