Premier Brad Wall is applauding the recent announcement of an agreement, and Canada’s participation in the Trans Pacific Partnership (TPP), one of the most ambitious free trade agreements in history.
Negotiations involving 12 nations have just concluded on the TPP, which will represent a market of nearly 800 million consumers and a combined GDP of $28.5 trillion. Member countries include Canada, the United States, Mexico, Japan, New Zealand, Australia, Singapore, Vietnam, Malaysia, Chile, Peru and Brunei.
“This is a huge deal for Canada as a trading nation and Saskatchewan as a trading province,” Wall said. “The agreement builds on the strengths of the other free trade deals Canada has struck and opens up new opportunities for our exporters in the fast-growing and lucrative pacific markets.”
Saskatchewan exported more than $25 billion in goods to TPP countries in 2014, or 71 per cent of our international exports. The premier said the TPP increases access to those markets for our exporters and keeps them on a level playing field with their competitors.
“International trade has always been vital to our province’s economy and our government’s Growth Plan calls for us to double our global exports by 2020,” Wall said. “Agreements like the TPP and Canada’s free trade deals with the European Union and Korea will help us reach that goal.”
From 2007 to 2014, Saskatchewan’s total exports to the world increased by 77 per cent to more than $35 billion a year. Saskatchewan’s agricultural exports more than doubled in that same period.
Wall said the TPP agreement will open new markets and increase Saskatchewan exports even further.
“Our agricultural producers are looking forward to having an even stronger presence in pacific markets, in particular Japan,” Wall said. “The TPP will encourage major growth and investment in our value-added agriculture sector through better access to these markets for our processed products, such as canola oil and meal, malt barley, beef and pork.”
Wall called on all the federal party leaders to commit to honouring the agreement if they are elected.
