Canada is committed to pursuing new opportunities to deepen trade and economic cooperation with Japan. During Prime Minister Harper's March 2012 visit to Japan, he and then Prime Minister Noda announced the launch of comprehensive and high-level economic partnership agreement (EPA) negotiations, or free trade negotiations (see News Release: PM announces launch of free trade negotiations with Japan).
This historic announcement followed the March 7, 2012, release of the "Report of the Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement" which concludes that a Canada-Japan agreement could translate into gains of up to $3.8 billion a year in Canadian gross domestic product. The study also estimates that Canadian exports to Japan could increase by as much as 67 percent and lead to gains for Canadian exporters of goods and services, as well as enhanced investment opportunities. According to the study’s findings, there remains much untapped potential in the Canada-Japan trade relationship.
Why is Canada launching free trade negotiations with Japan?
Will a free trade agreement (FTA) with Japan benefit Canadian SMEs?
Which sectors are likely to benefit from a free trade agreement with Japan?
How long will it take before negotiations are concluded?