Canada to host eighth Comprehensive and Progressive Agreement for Trans-Pacific Partnership Commission meeting in Vancouver, B.C.

Press Release

From: Global Affairs Canada

November 26, 2024

The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, on behalf of Canada, will welcome fellow Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members in Vancouver, British Columbia, for the eighth CPTPP Commission meeting from November 27 to 28, 2024.

As the 2024 CPTPP Commission Chair, Canada will work with other members to advance 3 priorities:

1. Promote the effective and timely review of the CPTPP to ensure it is relevant to the issues and challenges faced by CPTPP members.
2. Encourage businesses, especially small and medium-sized enterprises (SMEs) and women- and Indigenous-led companies, to use the CPTPP and leverage its benefits.
3. Advance discussions for new economies applying to become CPTPP members.

Canada is committed to helping more entrepreneurs succeed in CPTPP markets by leveraging the benefits of this agreement. This is why Canada will also host the CPTPP Inclusive Trade Symposium alongside the CPTPP Commission meeting. The symposium will bring diverse stakeholders together to support SMEs, and Indigenous- and women-led firms in their utilization of the CPTPP while highlighting and demonstrating Canada’s leadership in advancing inclusive trade initiatives.

The outcomes of the CPTPP Commission meeting and Inclusive Trade Symposium will support the rules-based trading order that Canadian businesses and workers depend upon. The CPTPP enhances trade partnerships and investment opportunities by reducing trade barriers and facilitating trade in the Pacific region and beyond, helping to create good-paying jobs for Canadians. It also promotes more-diverse, innovative and resilient economies by addressing key barriers to doing business internationally.

Quotes

“I’m so proud of the collaboration between CPTPP members this year that will ensure the agreement remains the gold standard for trade agreements. I look forward to welcoming CPTPP members in Vancouver this week to discuss the ways we can level the playing field and support underrepresented groups in trade. By working together, we can continue to improve the agreement to better serve businesses and people in Canada and abroad.”

– Mary Ng, Minister of Export Promotion, International Trade and Economic Development

Quick facts

• The CPTPP is a cornerstone of Canada’s engagement in the Indo-Pacific region, helping to create jobs, strengthen economic relations and boost Canada’s trade with important trading partners.
• The CPTPP establishes a single set of rules among the parties, making trade more transparent, predictable and accessible, and addresses key barriers to doing business.
• In 2023, the sixth year since the CPTPP entered into force, total merchandise trade between Canada and all CPTPP partners was valued at $130.8 billion, an increase of 5% compared to 2022.
• The CPTPP is a trading bloc representing 580 million consumers, which provides Canada with preferential access to key markets.
• Upon full implementation (with the current 11 parties), 99% of tariff lines will be duty-free, covering 98% of Canada’s current exports to CPTPP markets.
• Only one year after the CPTPP came into effect, 135,000 jobs were created in Canadian firms that saw their exports to the new CPTPP markets grow by 25% or more.

Related products

• Minister Ng concludes successful seventh meeting of Comprehensive and Progressive Agreement for Trans-Pacific Partnership Commission
• Comprehensive and Progressive Agreement for Trans-Pacific Partnership – Joint ministerial statement on the occasion of the seventh commission meeting
• Tāmaki Makaurau Joint Declaration on Inclusive and Sustainable Trade
• Minister Ng welcomes the United Kingdom to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Associated links

• Comprehensive and Progressive Agreement for Trans-Pacific Partnership
• Inclusive Trade Action Group
• Inclusive Trade Action Group ministerial joint statement at the twelfth WTO Ministerial Conference in Geneva, Switzerland
• Trade policy and gender

Contacts
Huzaif Qaisar
Press Secretary
Office of the Minister of Export Promotion, International Trade and Economic Development
343-575-8816
Huzaif.Qaisar@international.gc.ca

Media Relations Office
Global Affairs Canada
media@international.gc.ca

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