The Honourable Jim Carr, Minister of International Trade Diversification, today issued the following statement:
“Today, it was my great honour, on behalf of Canada, to formally notify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Depositary, New Zealand, that Canada has completed the necessary procedures to ratify and implement the Agreement.
“Canada is the fifth country to ratify the CPTPP, meaning that Canada will be among the first six CPTPP Parties to enjoy the benefits of this landmark Agreement upon its entry into force. The CPTPP will come into force 60 days after the sixth country ratifies it. With the CPTPP, Canada will be the only G7 country with trade agreements with all other members of the G7.
“Canada is a trading nation. The CPTPP will add nearly half a billion consumers to the growing list of places where Canadian businesses can compete and succeed on a level playing field. The ratification of the CPTPP represents another important step toward trade diversification to help the middle class and those working hard to join it to compete and succeed in the global marketplace.
“The CPTPP is an excellent illustration of how 11 nations can come together against protectionism by liberalizing trade and strengthening the rules under which it is conducted. Global trade matters: it’s about improving peoples’ lives by offering more opportunities to turn their hard work into prosperity for their families and themselves. Agreements such as the CPTPP are about expanding opportunities for Canadians, from farmers and fishermen to small business, scientists and manufacturers.”