Deeper trade with the European Union will bring good jobs, growth and long-term prosperity to hard-working New Brunswickers, say federal ministers
April 27, 2012 - The Honourable Keith Ashfield, Minister of Fisheries and Oceans and Minister for the Atlantic Gateway, and the Honourable Bernard Valcourt, Minister of State (Atlantic Canada Opportunities Agency) (La Francophonie), today joined other federal ministers across the country in highlighting the benefits of a potential trade agreement with the European Union. The ministers held events at local businesses in New Brunswick’s important fish and seafood, and wood and wood products 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 New Brunswick’s workers and businesses,” said Minister Ashfield in Cap-Pelé at Cape Bald Packers, a packer and processor of premium lobster and snow crab. “More than 7,000 hard-working New Brunswickers and their families depend on the fish and seafood sector for their livelihood. A Canada-EU trade agreement will produce success for this critical sector and directly benefit workers and families who rely on it here in New Brunswick.”
Minister Valcourt attended an event in Edmundston at Fraser Wood Siding, one of North America’s foremost suppliers of quality wood siding and cedar shingles.
“The wood and wood products sector is an important pillar of New Brunswick’s economy, and it is a sector that would greatly benefit from an ambitious trade agreement with the European Union. In fact, thousands of New Brunswickers and their families depend on the wood and wood products sector for their livelihood,” said Minister Valcourt. “Lowering barriers would increase sales of New Brunswick’s world-class wood and wood products in the lucrative EU market of 500 million consumers, which would directly benefit New Brunswickers through more jobs, higher wages and greater long-term prosperity.”
“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 New Brunswick 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
Follow us on Twitter: @Canada_Trade
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 the number of jobs currently in the city of Moncton to the Canadian economy.
Many of New Brunswick’s key sectors would benefit from an ambitious Canada-EU trade agreement: