“It is important to note that signing next week preserves Canada’s status as a potential full partner in the agreement, with all of the rights and powers that go with it”.
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The Peterson Institute for International Economics said its analysis of the TPP deal reached in October between the United States and 11 other Pacific Rim countries found that it would boost USA exports by US$357 billion annually, and by US$1.025 trillion annually for all TPP countries together.
The mammoth Trans-Pacific Partnership (TPP) trade deal will be formally signed in New Zealand next month, marking the end of negotiations on the agreement, officials in Wellington said today.
The agreement is expected to be debated in parliament. Here in Chile, anti-TPP protesters say they will march again on February 4, the day leaders plan to sign the trade agreement, and they vow to continue their protests in March when the Chilean congress is set to vote on ratifying the trade agreement. “Many Canadians still have not made up their minds and many more still have questions”.
Freeland, for her part, said during her Vancouver visit that Canada has not yet committed to the signing.
Freeland said each country has up to two years to consider ratification before making a final decision but the deal can not be renegotiated.
Saskatchewan Agriculture Minister Lyle Stewart and Trade Minister Jeremy Harrison met Thursday with David Lametti, parliamentary secretary to the minister of worldwide trade, as part of consultations on the deal, which is also known as TPP. Signing the deal places Canada on the path to ratification, after which the TPP will come into force.
While the United States will be TPP’s largest beneficiary “in absolute terms”,”the agreement will generate substantial gains for Japan, Malaysia and Vietnam as well, and solid benefits for other members”.
It remains unclear, however, whether US lawmakers will ratify the accord.
“Signature will mark the end of the TPP negotiating process”, McClay said.
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For example, she said she heard from groups representing farmers in Alberta and the Port of Vancouver that were very strongly in favour of TPP, a deal that would open up new foreign markets for many Canadian firms.
