Deeper trade with European Union will increase sales of iconic Canadian products, bringing jobs and long-term prosperity to hard-working Ontarians, say ministers Clement and Raitt
November 16, 2012 - The Honourable Tony Clement, President of the Treasury Board and Minister for the Federal Economic Development Initiative for Northern Ontario, and the Honourable Lisa Raitt, Minister of Labour, participated in events today in Ontario as part of a week-long series of national outreach activities featuring some of Canada’s most iconic brands and products. The two ministers highlighted some of the Ontario exports that would benefit from a Canada-EU trade agreement.
“Our government is committed to creating jobs and growing the Canadian economy,” said Minister Clement at Langford Canoe, Canada’s oldest canoe company, which is located in his riding of Parry Sound-Muskoka. “Key to these efforts is opening new markets like the EU that appreciate the iconic products and brands that Canada has to offer—products that we as Canadians are proud of.”
Exports of canoes and other pleasure craft to the EU totalled $51 million in 2011. These products, including those produced by the renowned Langford Canoe in Dwight, Ontario, currently face EU tariffs, and an ambitious Canada-EU trade agreement would give Canadian exporters to the EU duty-free access for all boats and pleasure craft.
Minister Raitt participated in an event at Tilley Endurables in Toronto, maker of the famous Tilley Hat and one of the most recognized Canadian names in durable utility wear.
“Canada is seeking an outcome that will provide new market access opportunities for hats, as well as a wide variety of apparel products,” said Minister Raitt. “Canadian exports of hats and apparel to the EU totalled about $110 million last year. The reduction of tariff barriers on these products would not only increase sales, but would also increase recognition of Canada’s high-quality products.”
“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 Minister Fast. “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. That translates to a $1,000 increase 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.
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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:
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 Kingston to the Canadian economy.
Many of Ontario’s key sectors would benefit from an ambitious Canada-EU trade agreement: