6th meeting of Comprehensive and Progressive Agreement for Trans-Pacific Partnership Commission. Image credit: Twitter handle of Mary Ng
On Oct 10 Mary Ng, Minister of International Trade, Export Promotion, Small Business, and Economic Development, concluded her successful participation in the sixth meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission hosted by Singapore.
“Our government is ensuring that more Canadian companies can benefit from the CPTPP’s unparalleled access to 500 million customers…We have an ambitious trade agenda, and Canadian businesses and workers are at the center of it,” said Ng
Highlighting the benefits the CPTPP is already providing to Canadian businesses, farmers, exporters, and workers. NG said the first 3 years after the agreement came into force in 2018 Canadian exports to markets newly initiated by the CPTPP increased by over 8 percent.
With the goal of increasing businesses’ access to new market opportunities, the counterparts of Ng and her CPTPP reviewed the progress members have undertaken to implement and eventually expand the high-standards agreement in advancing e-commerce and green initiatives for economic growth to maximize trade benefits for women and Indigenous-owned businesses and strengthening supply chains.
Underscoring the importance of supporting broad economic integration and rules-based trade Ng said that while economies continue to recover from the impacts of the COVID-19 pandemic, Russia’s illegal and unjustifiable invasion of Ukraine threatens global security, disrupting food, and energy markets.
In Singapore, during her meeting with her counterparts from the CPTPP economies, including Australia, Chile, Japan, New Zealand, Singapore, and Vietnam, Minister Ng discussed ongoing and potential areas of bilateral cooperation and also congratulated Malaysia on its recent ratification of the CPTPP. Ng said that Canada looks forward to maximizing the benefits of the agreement for Canadian companies looking to expand in the Indo-Pacific markets and beyond.
Ng also discussed areas of interest and potential collaboration between the private and public sectors of Singapore and Canada during her participation in a business engagement round table.
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