For Immediate Release
CPTPP Signing is Welcome News
The Saskatchewan Association of Rural Municipalities (SARM) is pleased that the Government of Canada has signed the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreement.
The CPTPP is a trade agreement between 11 pacific facing countries that represents about 13 per cent of the global economy or $10 trillion. The reduction of tariffs for Canadian producers and companies is a win for the country. This comes at an important time as it is unclear what the result will be for the North American Free Trade Agreement (NAFTA).
“The NAFTA negotiations appear to be somewhat volatile, creating economic uncertainty moving forward,” said SARM President Ray Orb. “SARM is pleased to see that the Government of Canada is working to create more market access that will benefit producers.”
As CPTPP is finalized, the Government of Canada will begin trade talks with the Mercosur bloc of nations. This bloc currently includes Argentina, Brazil, Paraguay and Uruguay. These markets represent a great opportunity for the agriculture sector and SARM will monitor its progress.
“The expansion of Canada’s international trade is important as trade with our biggest trading partner, the U.S., continues to face uncertainty,” said President Orb. “While these trade agreements are important, we must continue to press for positive changes to the national supply chain so products can get to market.”
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