Our Government’s Re-Engagement In Asia Is Good News For Canadian Business
Canadian Chamber Report
The Canadian Chamber of Commerce welcomes the announcement by the Government of a Canada-Japan Economic Partnership Agreement (EPA). “Canada and Japan have largely complementary economies. Greater effective market access through an Economic Partnership Agreement could yield economic gains for both countries,” said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
He added, “This visit and this announcement highlight the strong relations between our two countries. They demonstrate Canada’s re-engagement in Asia, and that is great news for the Canadian business community.”
Japan is a highly developed, sophisticated market and represents a major opportunity for Canadian produced goods and services. It remains the world’s third largest economy and Asia’s second, just behind China. Canada and Japan are important trade partners, but the value of two-way trade and investment has not moved much in a decade. There are significant barriers to real market access that hamper Canadian companies and limit the Canada-Japan partnership. An EPA, if it is of the right quality, would dismantle those barriers and revitalize commercial ties.
An EPA with Japan, provided it achieves real market access for Canadian goods and services, would revitalize our economic ties and be a good step forward in moving Canada’s business presence in the Asia-Pacific region forward.