Trade Minister Addresses Parliament on Second Reading of CPTPP

Minister of International Trade Diversification Jim Carr opened the second reading of Bill C-79 today, the legislation that will implement the Comprehensive Progressive Agreement for Trans-Pacific Partnership (CPTPP) if ratified. Minister Carr highlighted the CPTPP’s potential to boost Canada’s GDP by supporting growth for businesses and workers in different economic sectors. He also underscored that the CPTPP will provide increased opportunities for Canadian exporters and investors through preferential access to 10 markets, including Japan, Malaysia, Vietnam, and Singapore. The CPTPP represents a trading bloc of 11 countries with 500 million people and a combined GDP of 13.5 per cent of global GDP. The agreement will enter into force once six member countries have completed their ratification procedures, and it is expected to boost Canada’s GDP by C$4.2 billion.

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