Canada has become the sixth and deciding country to ratify a new Pacific Rim trade deal, and that's very good news according to several groups representing Saskatchewan producers.
Saskatchewan Cattlemen's Association (SCA) Chair Rick Toney said the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) represents many opportunities for cattle producers.
“The deal puts Canadian beef producers on even footing with our competitors like Australia. It will also provide preferential access for our beef products in markets like Japan over our U.S. competitors,” Toney said in statement.
The bill to enact the trade pact received Royal Assent by the Canadian Senate late last week. The massive trade pact won’t officially come into force until 60 days after six of the members ratify the deal. As of Monday, Mexico, Japan, Singapore, New Zealand, Australia and Canada signed on.
“The passage of CPTPP opens up significant export opportunities for Saskatchewan farmers and ranchers, and we are very pleased to see the speedy ratification of this landmark trade agreement by decision makers,” Agricultural Producers Association of Saskatchewan (APAS) President Todd Lewis, said in a statement. “Our producers are the most trade dependent in Canada, and we are ready to take advantage of new market opportunities in the Pacific region.”
Prior to the CPTPP agreement, Canada was the fourth largest beef supplier to Japan with $159 million, behind Australia, United States, and New Zealand. This was achieved with Canada, the U.S. and New Zealand all paying a 38.5 per cent tariff on beef exports to Japan, while Australia received preferential treatment. It is anticipated, with the CPTPP, Canadian beef exports to Japan will see an increase of more than $200 million.
On Twitter: @nigelmaxwell
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