The Ontario Chamber of Commerce supports the federal government’s decision to apply for membership to the Trans-Pacific Partnership (TPP). On November 13, 2011, Prime Minister Stephen Harper announced that Canada will formally apply to join the emerging Trans-Pacific Partnership trade group of Asia-Pacific countries.
The TPP is a free-trade proposal being negotiated among the United States, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. Its purpose is to create a tariff-free region that will facilitate greater trade and investment between member countries.
Canada joins Japan and Mexico in signaling its intention to join the TPP. Should all three countries gain admittance, the TPP would then comprise 12 countries with a combined population of more than 750 million people and a total economic output of $25 trillion.
Admittance to the TPP offers Canada the opportunity to diversify and deepen its trading relationships with emerging global markets. The Ontario Chamber of Commerce commends the federal government for reaching out to new exports markets, a move that is expected to create jobs and grow Canada’s economy.
About the OCC – For 100 years the Ontario Chamber of Commerce (OCC) has remained a strong advocate for Ontario businesses. As a membership organization, its lobby efforts are informed by local chambers of commerce, boards of trade and businesses of every size, in every sector who collectively make the most relevant and influential network in the province – 60,000 strong. To learn more about the OCC and what key policy issues are impacting Ontario’s business community visit www.occ.on.ca.