Minister Fast Meets with Japanese Minister at Trans-Pacific Partnership Meeting
October 3, 2013 - Bali, Indonesia - The Honourable Ed Fast, Minister of International Trade, meets with Akira Amari, Japan’s Minister of Economic Revitalization and Minister of State for Economic and Fiscal Policy. The two ministers were in Bali to attend the Trans-Pacific Partnership (TPP) ministerial meeting aimed at advancing TPP negotiations.
During his meeting with Minister of State Amari, Minister Fast reiterated the importance of strong commercial relations to the prosperity of both Canada and Japan. He highlighted the recent agreement between the two countries that, beginning in April 2014, will allow Canadian airlines daytime access to Tokyo’s Haneda Airport.
In addition to their TPP negotiations with 10 other countries, Canada and Japan are negotiating a bilateral economic partnership agreement (EPA). A joint study on the possibility of a Canada-Japan EPA found that such an agreement could translate into GDP gains of $3.8 billion a year for Canada, which is equivalent to almost 25,000 new jobs or a boost of $325 to the average Canadian family’s annual income. The study also found that an agreement could increase Canada’s exports to Japan by as much as 67 percent.
The fourth round of EPA negotiations will be held the week of November 12, 2013, in Ottawa.
Twelve countries are currently participating in the TPP negotiations: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. The TPP countries represent a market of more than 792 million people and a combined GDP of over $27.5 trillion—more than 38 percent of the world’s economy.
Minister Fast is in Indonesia from October 3 to 9 to participate in APEC, as well as TPP, ministerial meetings.
For more information, please consult Minister Fast Visits Asia.
For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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