Prime Minister Stephen Harper today welcomed the announcement by TPP members of their support for Canada joining the Trans-Pacific Partnership (TPP).
“Opening new markets and creating new business opportunities leads to jobs, growth and long-term prosperity for all Canadians,” said Prime Minister Harper. “A TPP agreement will enhance trade in the Asia-Pacific region and will provide greater economic opportunity for Canadians and Canadian businesses.”
Canada has been a driving force for global and regional trade liberalization and has set a high standard of ambition in its trade agreements. Joining the TPP is consistent with Canada’s active and ongoing engagement in the Asia-Pacific region and its commitment to free and open trade. In addition to the TPP, Canada is exploring free trade with Thailand and has begun free trade negotiations with Japan.
The TPP is a free trade agreement currently under negotiation by nine countries: Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam. The current membership represents a market of 510 million people and a GDP of $17.6 trillion. With the participation of Canada and Mexico the market will comprise 658 million people and a GDP of $20.5 trillion. Canada will proceed to enter the talks at the earliest opportunity.