Deeper trade with the European Union will bring good jobs, growth and long-term prosperity to hard-working Londoners and Ontarians, says Minister Finley
November 5, 2012 - The Honourable Diane Finley, Minister of Human Resources and Skills Development; Susan Truppe, Parliamentary Secretary for Status of Women; Joe Preston, Member of Parliament for Elgin-Middlesex-London; and Ed Holder, Member of Parliament for London West, held an event today with representatives of Purifics ES Inc., a London, Ontario-based water and air purification company, to highlight the benefits a Canada-EU trade and economic agreement would generate for Canadian workers and their families.
“Our government’s number-one priority remains the economy, and a comprehensive trade agreement with the European Union is a key part of our pro-trade plan to open new markets and help create jobs, growth and long-term prosperity,” said Minister Finley. “Deeper trade with the EU will bring benefits to various sectors of Ontario’s economy, especially to the thousands of hard-working Ontarians and their families who depend on our world-class manufacturing sector for their livelihoods.”
“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. “That is why our government is undertaking the most ambitious trade expansion plan in Canadian history, which includes a comprehensive next-generation trade agreement with the European Union. A trade agreement with the European Union is expected to bring a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. This translates to an increase of $1,000 to the average Canadian family’s income, or 80,000 new Canadian jobs. That is like adding the total number of jobs currently in the city of Guelph to the Canadian economy.”
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 Ontario of a potential Canada-EU trade agreement follows.
For further information, media representatives may contact:
Director of Communications
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 GDP.
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 Guelph to the Canadian economy.
Many of Ontario’s key sectors would benefit from an ambitious Canada-EU trade agreement:
Chemicals and plastics