Trans-Pacific Partnership (TPP) Negotiations
Frequently Asked Questions
Q – Why did Canada join the TPP?
- Joining the TPP negotiations is a key pillar of Canada’s ambitious pro-trade plan and will strengthen our efforts to broaden and deepen our trading relationships with Asia-Pacific markets, while reinvigorating our commercial ties to traditional partners, such as the U.S. and Mexico. In bridging the Americas and Asia, the TPP forms a significant and strategic bloc of advanced and growing economies. The TPP currently represents a market of more than 658 million people and a combined GDP of $20.5 trillion, with the potential to grow further with the entry of additional countries, such as Japan, Korea, Taiwan and the Philippines, who have each at one point expressed interest.
Q – What are the key benefits of Canada’s participation?
- Free trade agreements create jobs for Canadians and contribute to economic growth and long-term prosperity across the country. They do so by reducing or eliminating tariffs, quotas and other market access barriers across a broad range of goods and service sectors, improving investment conditions, and reducing input costs for manufactures. In addition, FTAs typically aim to protect workers’ rights and environmental standards, and in the case of the TPP, will address cross-cutting issues such as regulatory coherence, competitiveness and business facilitation, small and medium-sized enterprises, and development. Canada’s membership in the TPP also provides an opportunity to deepen and update existing partnerships.
Q – What is the link between interests in the Americas (Peru, Chile, Mexico) and Asia?
- Latin America and Asia are home to some of the fastest growing economies in the world. Chile, for example, was one of the top-three countries in South America for GDP growth in 2011. Joining our largest trading partners, the U.S. and Mexico, in the TPP will strengthen trading lines between the Americas and Asia, and create new opportunities for Canadian companies seeking to enhance their presence in these markets.
Q – Will the TPP include other markets?
- The TPP is a living agreement which means it could evolve in response to developments in trade, technology or other emerging issues and challenges, and could eventually include other economies from across the Asia Pacific region. Current members have actively sought to engage other parties in the Pacific-Rim to expand the TPP’s global reach and maximize the benefits stemming from trade liberalization and regional partnership.
Q – What are the areas being negotiated under the TPP?
- The areas to be covered are identified in the agreement’s outline (PDF * 111 KB)announced by Leaders in November 2011.
Q – How will Canada manage sensitive areas?
- In all international trade negotiations Canada promotes its interests in all areas under discussion.
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