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Beef Industry Wants Preferential Access To Key Asian Markets

While NAFTA is taking centre stage in trade news, the Canadian Cattlemen's Association is also keeping a close eye on an agreement to access key Asian markets.

Japan, Mexico and Singapore have now ratified the Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP), meaning three more countries need to sign off before the agreement comes into effect.

The Canadian Cattlemen's Association's Director of Government and International Relations, John Masswohl, says Canada along with Australia, New Zealand, Chile and Brunei are all on track to sign on in November or December.

"My idea is if we get there into October, and November, and the finish line is becoming more defined, that those five countries would all say, regardless of when we finish our ratification, we will all notify on the same date, and therefore all five of us will come in with the three that have already finished their process, and instead of it being the first six (countries), it will be the first eight all at once."

He says, other CPTPP countries want Canada to be among the first to ratify the deal as we're the second largest economy in the trade agreement.

From 2014 to 2016, Canada’s agricultural and agri-food exports to CPTPP countries were worth, on average, $6.9 billion annually.

Source : Discoverwestman