TPP Negotiators 'Making Progress,' Canada Says

Canada is "playing a constructive and important role" in the Trans-Pacific Partnership (TPP) negotiations, International Trade Minister Ed Fast has said.

Nineteen rounds of TPP talks have now been completed, with the latest, in Brunei, concluding at the weekend. According to Fast, negotiators built on the progress already made. He explained that they focused on goods market access, rules of origin, investment, services, financial services, temporary entry, intellectual property, government procurement, and the environment.

Canada formally joined negotiations in October, 2012. Including Canada, there are now twelve countries participating: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam. The TPP market represents more than 792m people and 38 percent of the world's trade.

The Canadian Government hopes that an ambitious agreement will benefit workers and families in every region of the country. It claims that Canadian exporters will have greater access to large, dynamic and fast-growing markets, and that the TPP will improve Canada's international competitiveness by solidifying its participation in lucrative trading blocs.

"Opening new markets and creating good jobs, economic growth and greater prosperity for Canadian workers and families is why our government is pursuing deeper trade and investment ties in the fast-growing and dynamic Asia-Pacific region. The TPP negotiations are a key pillar of our government's pro-trade plan, and I am pleased that Canada is playing a constructive and important role as we work to advance our interests and conclude an ambitious agreement in a timely manner," Fast said.

Source: Tax News