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Minister Champagne welcomes release of full text of the Comprehensive and Progressive Agreement for Trans-Pacific PartnershipWednesday, February 21, 2018 > 09:44:02
Trade helps strengthen the middle class by attracting job-creating investment to Canada and expanding export opportunities for Canadian businesses to large, fast-growing markets.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes a large step toward this goal. The CPTPP represents 495 million people with a combined gross domestic product of CAD $13.5 trillion – a full 13.5% of global GDP.
Through the CPTPP, Canada will soon have preferential access to half a billion consumers in the world’s most dynamic and fast-growing market – a move that will strengthen Canadian businesses, grow the economy, and create more well-paying jobs for middle class Canadians.
Today, the Honourable François-Philippe Champagne, Minister of International Trade, announced that after translation and legal review of the text across 11 jurisdictions, the full text of the new CPTPP has been published. The full text of the bilateral side-letters are expected to follow as soon as possible.
The Minister also released the projected economic impacts of the CPTPP and both are now posted to the Global Affairs Canada website. Ministers of all 11 member countries will officially sign the CPTPP on March 8th in Santiago, Chile.
Together, the 11 member countries of the CPTPP form one of the largest trading areas of the world. The Government of Canada continues to engage with Canadians and stakeholders across the country to promote the benefits of the Agreement.
“We wanted a good deal, and that’s what we got for Canadian workers and their families. Canadians from coast to coast to coast will have preferential market access to one of the largest trading blocs in the world. More trade means more growth and more growth means more jobs for the middle class.”
- François-Philippe Champagne, Minister of International Trade
The CPTPP will be one of the largest trading blocs in the world, with 11 member countries, 495 million people and a combined GDP of $13.5 trillion.
In 2016, Canada’s bilateral trade with the 10 other CPTPP countries amounted to $105 billion.
The CPTPP will provide significant economic benefits to Canada and is projected to increase Canada’s gross domestic product by $4.2 billion.
With the CPTPP, Canada will have a free trade agreement with each G7 country.
Text of the agreement
Economic Impact of Canada’s Participation in the CPTPP
CPTPP Frequently asked questions (FAQ)
Statement by Minister of International Trade on successful conclusion of Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)