Federal legislation implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership received royal assent today, moving Canada closer to becoming the sixth country to implement the trade deal.
The federal government must now notify the other CPTPP countries that its ratification process is complete before the country becomes the sixth member to do so after Japan, Mexico, Singapore, Australia, and New Zealand.
The agreement comes into effect 60 days after it is ratified by six members, which will benefit from early market access under the deal.
The federal government had been under intense pressure by farm groups to be one of the first to ratify the agreement.
“Farmers all across the country win with the CPTPP,” said Markus Haerle, vice-president of Grain Growers of Canada.
#Canada has received Royal Assent for the #CPTPP! This means that #CanadianBiz and #exporters will soon have preferential access to #dynamic CPTPP #markets like #Japan! #TimeToDiversify pic.twitter.com/LDjsgU1m1p
— Canada Trade (@CanadaTrade) October 25, 2018
“Everyone from pulse growers in the Peace River Region, canola growers in Saskatchewan and Manitoba, soybean growers in Ontario, corn growers in Quebec and wheat growers from British Columbia to Atlantic Canada will benefit from increased demand as a result of the CPTPP.”
Brian Innes, president of the Canadian Agri-Food Trade Alliance, said early implementation of the deal ensures that Canada is not left behind in a region that is fiercely competitive.
“For our members in the beef, pork, grains, cereals, pulses, soybeans, canola as well as the malt, sugar, and food manufacturing industries, this ensures Canadian exporters will benefit on day one from tariff reductions,” he said.
“It’s the first step to eliminating many tariffs that have prevented meaningful market access to key Asian markets.”
Rick Bergmann, chair of the Canadian Pork Council, thanked members of the House of Commons and the Senate for their work in implementing the agreement.
“We are thrilled that members acknowledged the importance of Bill C-79 by expediting the legislative process,” he said.