Canada-EU Trade Agreement to Boost GDP

CANADA - Canada's Regional Minister for Manitoba estimates securing a bilateral free agreement with the European Union will grow Canada's economy by up to 12 billion dollars.
calendar icon 1 May 2012
clock icon 3 minute read

On Friday representatives of agriculture, business, and manufacturing joined with federal members of parliament at 18 locations across Canada to outline the potential benefits of a Canada-European Union bilateral free trade agreement.

Vic Toews, Canada's Minister of Public Safety and Regional Minister for Manitoba, told reporters on hand at Maple Leaf Food's in Winnipeg, trade accounts for over 60 per cent of Canada's GDP and the jobs of one in five Canadians.

Vic Toews-Canada's Reginal Minister for Manitoba:

We know that companies like Maple Leaf and many others throughout Manitoba can compete and win in global markets.
That's why we're pursuing the most ambitious free trade plan in Canada's history, a plan that includes an agreement with the European Union.
This is our country's most ambitious trade initiative since NAFTA nearly 20 year's ago.
The benefits for hard working Canadians in every region of our country including Manitoba are enormous.
In fact a joint study with the European Union shows that an agreement would boost Canada's total trade with the EU by as much as 20 per cent.
It would also grow our economy by up to 12 billion dollars.
That roughly speaking translates into an increase of about a thousand dollars to the average Canadian family's income or 80 thousand new jobs across the country.

Mr Toews says, with over 500 million consumers and a GDP of over 17 trillion dollars the EU is the largest integrated economy in the world and reducing tariffs and other barriers to trade will make Canadian exports more competitive which will boost sales and create new jobs and prosperities for Canadian workers and families.

For Farmscape.Ca, I'm Bruce Cochrane.

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