Canadian pork producers coast to coast were pleased to learn that the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) legislation has been introduced in the House of Commons today. The implementation bill introduced by Minister Champagne follows his tabling of the full text of the agreement on May 23, 2018.
“Minister Champagne has shown great leadership in advocating for the CPTPP. Ensuring our industry has access to diverse and growing markets is more important than ever. We are asking all members of the House of Commons to quickly ratify this agreement” said Rick Bergmann, Chair of the Canadian Pork Council.
The Canadian pork industry stands to gain huge benefits with the implementation of the CPTPP, especially in Japan where fresh chilled pork is considered a premium product and is in high demand. According to the analysis by Global Affairs Canada, Canadian pork exports to Japan are projected to increase by $639 million, or 36.2 %. In addition to increased exports, projected savings of $51 million are expected because of tariff reductions on pork.
It is imperative that Canada be among the first six countries to ratify the CPTPP. It is these “first-movers” who will get the earliest opportunities to position themselves in key markets. Mexico has already ratified the agreement, and Japan and Australia have a head start. The remaining countries that are part of this agreement have all indicated that they aim to conclude their legislation process before the fall.