Trade deals aim to diversify Canada’s agricultural trade
January 8, 2019
Trade deals are a top priority for the Government of Canada, as Canada seeks to open new markets around the world. The Canada–United States–Mexico Agreement (CUSMA) is now complete and the recent ratification of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) means that Canada was among the first six parties to enjoy the benefits of the agreement when it came into force on December 30, 2018.
"Free trade agreements such as CETA, CUSMA and the CPTPP encourage investment, open up massive new markets around the world and help our hard-working farmers and food processors compete globally," said Agriculture and Agri-Food Minister Lawrence MacAulay.
The successful conclusion of the CUSMA negotiations marked many months of hard work by trade negotiators. The new agreement gives Canadian workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth for Canada.
The CPTPP is a major trading bloc, comprising 11 countries that represent close to 500 million people and a combined gross domestic product (GDP) of $13.5 trillion. Once the agreement has entered into force for all parties, producers of more than three-quarters of Canada's agriculture and agri-food products will benefit from immediate duty-free access to all member states.
These agreements—as well as the Comprehensive and Economic Trade Agreement (CETA)—make Canada the only G7 nation with free trade access to the Americas, Europe and Asia–Pacific.
The federal government is also committed to developing strategies to support farmers and processors to help them adjust to impacts resulting from the CUSMA and the CPTPP. Working groups have been created and will help farmers and processors adjust to trade agreements.
For more information on these trade deals or the working groups, please visit our website.
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