19 June 2013
The Canadian Government has tabled its response to a parliamentary committee's comments on the proposed economic partnership agreement (EPA) with Japan, welcoming the committee's analysis and recommendations.
The House of Commons Standing Committee on International Trade (CIIT) began its study in April, 2012. It heard from a variety of witnesses, including representatives of the federal and provincial governments, academics, businesses, and industry associations.
The CIIT considered the main areas of negotiation, focusing on trade in goods and services, and investment protection. Among its recommendations were that the Government conclude an EPA that provides a net benefit to Canada, that it secure access to the Japanese market for goods and services that is at least equivalent as that offered by Japan to other jurisdictions, and that reductions in or elimination of Japan's escalating tariffs be secured.
In its response, the Government states that "A comprehensive EPA with Japan will help unlock the full potential of our bilateral relationship, leading to the creation of new opportunities, jobs and prosperity through increased trade and investment. Once fully implemented, an agreement with Japan could provide a CAD3.8bn (USD3.7bn) GDP boost for Canada and generate an increase of roughly 67 percent in bilateral trade."
It further explains that the Government hopes to "advance negotiations as quickly as possible," and is "committed to negotiating an ambitious and comprehensive EPA that is in the best interest of Canadians, results in overall benefits to the Canadian economy, will contribute to Canada?s long-term prosperity and create new jobs for hard-working Canadians."
On the issue of tariffs, the response stresses that the Government "recognizes the importance of ensuring a level playing field for Canadians seeking to do business in Japan. By reducing tariffs, improving market access, enhancing cooperation and otherwise facilitating trade, an EPA with Japan would allow Canadians to fully leverage the complementary economic relationship and benefit from commensurate opportunities in a wide range of sectors."
Tabling the response, Gerald Keddy, Parliamentary Secretary to the Minister of International Trade, said that the talks "represent a historic opportunity to take Canada?s trade and investment relationship with one of the world?s largest and most innovative economies to the next level."
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