Free trade negotiations | Japan is Canada’s fourth largest export market
Japan, already a $4 billion market for Canadian food exporters and the second-largest customer, has agreed to open free trade talks with Canada.
“This is a truly historic step that will help create jobs and growth for both countries,” prime minister Stephen Harper said in Tokyo March 25 when announcing the negotiation.
Japan is Canada’s fourth-largest export market overall already, and “I’m told we have the potential to increase our exports to Japan by as much as two-thirds.”
Canadian grain, pork, livestock and meat exporters immediately predicted major gains for Canadian agriculture and food producers.
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“Japan is the largest predictable market for Canadian canola seed, the second-largest market for Canadian malt and Canadian pork, the third largest market for Canadian wheat and the fourth largest market for Canadian beef,” the Canadian Agri-Food Trade Alliance said in a March 25 statement from Tokyo, where the agreement was announced.
CAFTA executive director Kathleen Sullivan was part of a large industry contingent that flew to Asia on the trade mission with Harper and agriculture minister Gerry Ritz.
“A free trade agreement with Japan could result in additional exports of high-value Canadian agri-food products to that country,” she said.
At the moment, high tariffs and non-tariff barriers block increased Canadian access to the Japanese market.
Still, despite the barriers, canola and oilseed exports are worth $1.4 billion, pork sales are close to $900 million and wheat exports are worth almost $500 million.
