Canada-Japan Economic Partnership Agreement Negotiations
Frequently Asked Questions
Why is Canada launching free trade negotiations with Japan?
- To ensure our prosperity now and in the future, Canada has to be a trading nation. Trade creates jobs and opportunities for Canadians.
- Liberalizing trade in goods and services with Japan will allow Canadian businesses to take advantage of the full range of opportunities offered in the Japanese market.
- A comprehensive agreement will also contribute to growth in two-way investment, and growth in investments helps to build a stronger Canadian economy.
- The Joint Study on the possibility of a Canada-Japan Economic Partnership Agreement projects that an agreement would increase Canada’s gross domestic product (GDP) by US$3.8 billion and boost exports to Japan by 67 percent.
Will a free trade agreement (FTA) with Japan benefit Canadian SMEs?
- By reducing tariffs, improving market access, enhancing cooperation and facilitating trade, an FTA with Japan will open up new market opportunities for Canadian SMEs and help them be more competitive on the Japanese market.
- An FTA with Japan will put in place the right conditions for Canadian SMEs to increase their footprint in the Asia-Pacific region, using Japan as a platform to penetrate new, high-growth markets.
Which sectors are likely to benefit from a free trade agreement with Japan?
- A comprehensive agreement will allow Canadian exporters of goods and services to take advantage of the full range of market opportunities in Japan, Canada’s fourth largest merchandise export market and our second largest trading partner in Asia.
- A comprehensive agreement will contribute to growth in two-way investment. Japan is currently Canada’s largest source of job-creating investment from Asia, at more than $12 billion in 2011.
- An agreement is expected to strengthen bilateral trade and investment opportunities in many areas of interest to Canada, including agri-food products and natural resources.
How long will it take before negotiations are concluded?
- The negotiation process is at a very early stage. It is not possible at this point to estimate when negotiations will reach a conclusion.
- Canada is committed to an expeditious conclusion of our negotiations.
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