The Canada-Japan Society of British Columbia lauds the announcement of a new feasibility study directed towards establishing an Economic Partnership Agreement between Canada and Japan.
At a Canada-Japan Society Business Roundtable on February 23rd in Vancouver, Canada’s Minister of International Trade, Peter van Loan announced the launch of the joint Canada-Japan study to examine the potential for an Economic Partnership Agreement (EPA). The study will consider the economic impact of an EPA, including the benefits for workers and exporters in both countries. Japan is the world’s third-largest economy and Canada’s fourth-largest merchandise export market, with Canadian exports to Japan totaling more than C$9 billion in 2010.
The round table was moderated by the Russell Mark, Past President of the Society. Mark noted “It is most appropriate that Minister van Loan come to British Columbia to make the Canada-Japan joint study announcement, given that 46% of Canadian exports to Japan originate in British Columbia. Of the more than $4 billion of BC exports to Japan last year, mineral and mining products represented a whopping 62%, forest products 25%, fisheries products 3% and ‘other’ 10%.”
Japan is B.C.’s largest Asian export market.
“Increased trade with Japan will lead to increased awareness of the importance of Japan’s role as the most significant economic engine behind Asian growth generally. Canada, and specifically British Columbia, will benefit as these links grow and jobs are created.” said Steven Archer, President of the Canada-Japan Society of B. C. “British Columbia and Japan have a long history, dating back to when Canada’s first formal diplomatic relationship with Japan began with the establishment of a Consulate in Vancouver in 1889, forty years before the opening of an embassy in Ottawa. We welcome this announcement by the federal government to initiate a joint feasibility study with Japan, directed towards establishing an economic partnership agreement.”
As part of this process, on February 26th, 2011, a Canada Gazette notice was issued to seek the views of Canadians on possible negotiations toward a comprehensive economic partnership agreement with Japan. The Canada-Japan Society of British Columbia will be making a submission in this regard, and welcomes input from its members, but if other interest groups or individuals would like to make separate submissions, please click here for more information.
You may also find the Ministry of Foreign Affairs of Japan’s announcement regarding the launch of the “Joint Study of the Possibility of a Japan-Canada Economic Partnership Agreement” by clicking here.