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June 7, 2010

Ottawa is considering free trade with Japan

While in Sapporo, Japan, to attend the Asia-Pacific Economic Cooperation (APEC) Meeting of Ministers Responsible for Trade, Canada's Minister of International Trade, Peter Van Loan, held a number of bilateral meetings with counterparts from APEC member economies.

Mr. Van Loan met with Japanese ministers, as well as a number of business leaders. He noted Canada's commitment to strengthening its science and technology relationship with one of the world's most innovative and science-rich economies, and conveyed Canada's commitment to progress on a range of Canada-Japan commercial issues, including the possibility of negotiating an economic partnership agreement with Japan.

"A Canada-Japan economic partnership agreement would help address today's economic challenges by creating jobs and opening more doors for business on both sides of the Pacific," said the Minister. "Our government is committed to promoting free trade, fighting protectionism and creating opportunities for Canadian businesses and Canadian workers in global markets."

During an address to the Friends of Canada Symposium in Tokyo Minister Van Loan said "In addition to attending the Asia-Pacific Economic Cooperation meetings in Sapporo, I'm taking every opportunity to meet with Japanese officials and business leaders to call for closer trade and investment ties in the years ahead.

This includes making the case for an economic partnership agreement between our countries. We think that Canada should be at the top of the list for Japan's future trade negotiations. The potential for creating prosperity for our citizens is enormous for both sides.

A study found that eliminating trade tariffs would bring Japan economic benefits worth almost $6.3 billion and boost Japanese exports by $1.9 billion."