Canada Initiates Stakeholder Consultations on a New Trans-Pacific Partnership Agreement
On September 30, 2017, Global Affairs Canada announced that it has commenced a consultation process regarding a new Trans-Pacific Partnership Agreement (“TPP-11”). The consultation process is part of a renewed effort to finalize a Trans-Pacific trade agreement following the United States’ withdrawal from the initial Trans-Pacific Partnership Agreement (“TPP”). The TPP was a multi-lateral trade initiative between 12 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam), signed by all members on February 4, 2016. On January 30, 2017, following the election of President Trump, the United States notified signatories that it did not intend to become a party to the TPP.
Opportunities under TPP-11
The Government of Canada is seeking the views of the Canadian public and interested Canadian stakeholders on a potential agreement with the remaining 11 countries. Total merchandise trade among TPP-2 countries reached US$404 billion in 2015. Together, the 11 countries, including Canada, represent 494 million people, with a combined GDP of US$10.2 trillion, or 13.6% of global GDP. The TPP-11 consultation process provides an opportunity for Canadian businesses to highlight interests or issues of importance to them regarding trade and investment with TPP-11 countries, particularly Japan. TPP-11 negotiations also offer Canadian companies the chance to strengthen links with Asia-Pacific partners, as well as provide economic and strategic benefits to Canadian companies through significant preferential market access to the fast-growing markets of the Asia-Pacific region.
Call for Submissions
All interested parties are invited to submit their views on TPP-11 to Global Affairs Canada by October 30, 2017. It is important to note that any information received as a result of this consultation will be considered public information, unless explicitly stated otherwise:
Submissions should include the following:
the contributor’s name and address and, if applicable, the name of the contributor’s organization, institution or business;
the specific issues being addressed; and
where possible, precise information on the rationale for the positions taken, including any significant impact they may have on Canada’s domestic or international interests.Advertisement