Canadian Pork Council statement regarding the Economic impact of Canada’s participation in the Comprehensive and Progressive Trans-Pacific Partnership
For immediate release
February 21, 2018 – OTTAWA Data released by Global Affairs Canada yesterday demonstrates that the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) will indeed have a positive impact on the Canadian economy. Global Affairs Canada suggests that long-term economic gains for Canada will total $4.2 billion.
“Canada will greatly profit from the Comprehensive Progressive Trans-Pacific Partnership and its value will continue to increase as other countries potentially seek to join this historic agreement for trade” says Rick Bergmann, Canadian Pork Council (CPC) Chair. “We look forward to Canada signing and ratifying the CPTPP in a timely fashion” adds Mr. Bergmann.
The Canadian Pork Council has been a strong supporter of an agreement with the remaining members of the original Trans-Pacific Partnership from the very beginning. The CPC is pleased to see its position reinforced by data from the Office of the Chief Economist.
According to the report released today, once the CPTPP is implemented, Canada’s pork sector can expect a significant increase in exports, tariff reductions and a more level playing field with other countries in this partnership. With an increase in demand for Canadian pork, it is likely that more jobs will be created, coast to coast and will add to the 200,000 jobs in both urban and rural communities supported by the Canadian pork industry.
Japan, the world’s third-largest economy, is a key market for Canadian pork. According to the analysis by Global Affairs Canada, Canadian pork exports to Japan are projected to increase by $639 million, or 36.2 %. In addition to increased exports, projected savings of $51 million are expected because of tariff reductions on pork. This reduction in tariffs means that Canadian pork will have an advantage over countries that are not part of the CPTPP and will level the playing field for those that are part of the agreement.
The Canadian Pork Council is the national voice for hog producers in Canada. A federation of nine provincial pork industry associations representing 7,000 farms, the organization plays a leadership role in achieving and maintaining a dynamic and prosperous Canadian pork sector.
Gary Stordy - Director, Government and Corporate Affairs
Canadian Pork Council
613 263-9239 ext. 277
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