Minister Champagne Introduces Implementing Legislation for the CPTPP

Minister of International Trade Francois-Philippe Champagne introduced legislation today in the House of Commons for the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP will provide Canadian exporters and investors across a broad range of sectors with preferential access to fast-growing markets in the Asia Pacific region, including Japan, Malaysia, and Vietnam. The CPTPP also contains the first-ever chapter devoted to micro, small, and medium enterprises (MSMEs), making it easier for them to scale up and export. The CPTPP will enter into force 60 days after at least six of the partner countries complete their respective ratification procedures. The Partnership represents a trading bloc of 11 countries, with almost 500 million people and a combined GDP of C$13.5 trillion, or 13.5% of global GDP. In 2017, Canada’s merchandise trade with the 10 other CPTPP countries amounted to more than C$95 billion.

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