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Deepening trade and economic ties with the Asia-Pacific region
Canada has a strong, resilient and competitive economy that represents a larger market than any of the current TPP members, other than the United States. The participation of Canada and Mexico, alongside the United States and other TPP members, in the development of a 21st Century trade agreement would lead to deeper trade and investment partnerships, enhanced economic integration and job creation in Canada.
Since announcing its interest in joining the TPP at the Asia-Pacific Economic Cooperation (APEC) Leaders' Summit in November 2011, Canada has held consultations with all nine TPP member countries in order to gain their support.
Each country has its own domestic process to ratify Canada’s participation that will now unfold. Canada will proceed to enter the talks at the earliest opportunity thereafter, expected to be early this fall.
TPP negotiations continue with the next round scheduled for July 2-10 in San Diego, California.
Since 2006, Canada has concluded new trade agreements with nine countries and has launched free trade negotiations with over 60 others. This includes current trade negotiations with the European Union, Canada’s most significant trade initiative since the signing of the North American Free Trade Agreement.
Earlier this year, Canada launched negotiations toward a free trade agreement with Japan, which will generate billions of dollars in commercial flows between the two countries. Canada also announced formal exploratory talks towards a potential free trade agreement with Thailand, Canada’s largest bilateral trade partner in Southeast Asia.
