Thursday, June 20, 2024
HomeBusinessEconomyCanada - CPTPP parties agree to commence accession process with United Kingdom

Canada – CPTPP parties agree to commence accession process with United Kingdom

OTTAWA, Canada – Mary Ng, minister of small business, export promotion and international trade, met Monday, with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members to discuss the United Kingdom’s application to join the CPTPP. They agreed to establish an Accession Working Group to begin negotiations with the UK on its proposed membership. This was the fourth meeting of the CPTPP Commission and was hosted virtually by Japan.

“Our government has been working hard to ensure that Canadian businesses, including small and medium-sized enterprises and those owned by diverse entrepreneurs, have better access to international markets. Canada welcomes the United Kingdom’s interest in joining the CPTPP and would welcome the agreement’s expansion to economies able to meet its high-standard commitments on the environment, labour, women’s participation, and much more,” said minister Ng.

The government of Canada is committed to diversifying trade and investment with key markets around the world, including in the Asia-Pacific region, as part of its commitment to supporting a strong, resilient, and inclusive economic recovery from the COVID-19 pandemic.

Expanding ambitious trade agreements, such as the CPTPP, gives Canadian businesses more opportunities to grow in international markets while anchoring their success in Canada.

At the meeting, the members agreed on a joint statement highlighting the importance of expanding the CPTPP through the accession of aspirant economies. Such expansion would promote rules-based trade while creating greater prosperity in the Asia-Pacific region, including through the CPTPP’s high-standard commitments on tariff elimination, labour, and the environment.



Please enter your comment!
Please enter your name here


Caribbean News

Global News

Canada launches consultation to expand wireless services via satellites

Supplemental mobile coverage from satellites will improve reliability of telecom services OTTAWA, Canada - Canadians need to be able to count on reliable telecom services...