Deeper trade with the European Union will bring good jobs, growth and long-term prosperity to hard-working Saskatchewan residents, say Minister of State Yelich and Member of Parliament Hoback
April 27, 2012 - The Honourable Lynne Yelich, Minister of State (Western Economic Diversification), and Randy Hoback, Member of Parliament for Prince Albert, today joined federal ministers across the country in highlighting the benefits of a potential trade agreement with the European Union. The two held events at local businesses in Saskatchewan’s important scientific research and development and agriculture sectors to highlight the benefits a Canada-EU trade agreement would generate for Canadian workers and their families.
“Our government is focused on jobs, growth and long-term prosperity. An ambitious agreement with the European Union will be a big win for Saskatchewan’s workers and businesses,” said Minister Yelich at the Canadian Light Source Inc. facility in Saskatoon, the only synchrotron light source in Canada. “A Canada-EU trade agreement will produce success for the scientific research and development sector and directly benefit workers and families who rely on it here in Saskatchewan.”
MP Hoback attended an event at CanMar Grain Products Ltd., a world leader in the production of golden roasted flaxseed products, in Regina.
“The agriculture sector is an important pillar of Saskatchewan’s economy, and it is a sector that will greatly benefit from an ambitious trade agreement with the European Union. In fact, almost 40,000 residents of Saskatchewan and their families depend on the agriculture sector for their livelihood,” said MP Hoback. “Lowering barriers would increase sales of Saskatchewan’s world-class agriculture sector in the lucrative EU market of 500 million consumers, which would directly benefit residents of Saskatchewan through more jobs, higher wages and greater long-term prosperity.”
“Better access to the EU market would mean a better bottom line for Canadian farmers and ranchers,” said the Honourable Gerry Ritz, Minister of Agriculture and Agri-Food. “An ambitious Canada-EU trade agreement will increase access for Canadian beef, wheat, canola and pulses, boosting Saskatchewan's agricultural exports to the EU, which were more than $700 million annually on average over the last few years.”
“More than 60 percent of Canada’s annual income (gross domestic product) and the jobs of one in five Canadians are generated by trade,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, in a keynote address today to the Economic Club of Canada in Ottawa. The Minister’s address was among several events being held across the country to highlight the benefits of the Canada-EU trade agreement currently under negotiation.
“An ambitious trade agreement with the European Union would generate significant benefits for hard-working Canadians in every region of our country,” said Minister Fast. “It would bring a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. That translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new jobs.”
The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of over $17 trillion. The ongoing trade negotiations with the EU represent Canada’s most significant trade initiative since the historic North American Free Trade Agreement.
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A backgrounder detailing the benefits for Saskatchewan of a potential Canada-EU trade agreement follows.
For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
Trade Media Relations Office
Foreign Affairs and International Trade Canada
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An ambitious trade agreement with the European Union would be of significant benefit to Canada, resulting in a 20-percent boost in bilateral trade and a $12-billion increase in Canada’s annual income (gross domestic product).
That translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new Canadian jobs—which is like adding four times the number of jobs currently in the city of Prince Albert to the Canadian economy.
Many of Saskatchewan’s key sectors would benefit from an ambitious Canada-EU trade agreement: