When it comes to the Trans-Pacific Partnership Free Trade Agreement (TPP), Canada may have been invited to the party, but we are not yet part of the club.
After considerable government lobbying during the recent G20 summit in Mexico, Canada was extended an invitation to a recent San Diego meeting. Canada’s admission, however, has not yet been approved by the U.S or the other member countries, which include Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. Mexico and Japan have also expressed an interest in being included.
While the value of joining another free trade zone may be questioned by some, Canadian delegates have explained that they are less interested in gaining access to new markets, as they are in holding onto old ones.
Former trade minister John Manley, told the Canadian Press that Canada could not sit out of a trade deal that includes the U.S. and Mexico without affecting existing trade.
So the lobbying will likely continue, even if we’re starting to look a little desperate.
Tuesday, July 3, 2012