Now more than ever, Canada must work to create new opportunities for businesses and all Canadians.
The Government of Canada is committed to diversifying trade and investment with the dynamic, growing market in the Asia-Pacific region. Ambitious trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will help Canadian businesses and workers recover more quickly from the COVID-19 pandemic.
The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, participated yesterday in the third CPTPP Commission meeting, hosted virtually by Mexico.
The meeting was an opportunity for countries to discuss how the CPTPP can foster business growth, and advance economic recovery for people in all 11 countries. The CPTPP ensures open and predictable access to international markets, which is crucial amid uncertainty caused by the COVID-19 pandemic.
Member countries also discussed the potential expansion of the Agreement to include new economies, and ways to ensure that our global economic recovery is inclusive and sustainable.
The meeting concluded with all CPTPP countries issuing a Joint Statement highlighting shared priorities to reinforce open and rules-based trade, and to strengthen global supply chains in the Asia-Pacific region and around the world.
“The CPTPP benefits Canadian businesses and exporters, and will be key to driving our economic recovery from COVID-19 as an ambitious, high-standard blueprint for prosperity in the Asia-Pacific. I welcomed the chance to connect with my counterparts to talk about how we can work together to ensure that the agreement continues to benefit our people, and to welcome new CPTPP members. Canada will continue to demonstrate leadership on the world stage to push for open, rules-based trade, and to increase prosperity for all Canadians.”
– Mary Ng, Minister of Small Business, Export Promotion and International Trade
The CPTPP is a free trade agreement between Canada and 10 other countries in the Asia-Pacific region: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The CPTPP entered into force for Canada, Australia, Japan, Mexico, New Zealand, and Singapore on December 30, 2018; and for Vietnam on January 14, 2019.
The CPTPP Commission is a group established after the Agreement entered into force, led by ministers or senior officials of each of the CPTPP parties.
The CPTPP Commission oversees the implementation of the CPTPP and reviews the economic relationship between parties.