New Brunswick’s View on TPP
FREDERICTON–Everyone’s talking about the new Trans-Pacific Partnership trade agreement signed by Canada and 11 other nations earlier this week. Some people love the new deal, some hate it.
But what does it all mean for New Brunswick? We asked Rick Doucet, New Brunswick’s Minister of Economic Development and Trade Policy, three questions about TPP:
1. What does the TPP trade agreement mean for New Brunswick?
While it will take some time to analyse and quantify the impact of the TPP, there are some benefits that we see overall. New Brunswick is Canada’s most export-oriented province and as such is always interested in new markets for our goods and services. As Minister of Trade Policy, I welcome any opportunity that will allow New Brunswick’s companies to be more competitive on a global scale. I can see the potential of the TPP to open doors so that our companies can play a pivotal role in strengthening our economy and creating jobs so that New Brunswickers can support their families. I also appreciate that this agreement can potentially have positive impacts to the global economy, from increased productivity and innovation to improved living standards and higher wages.
However, in my role as Agriculture, Aquaculture and Fisheries Minister, I have concerns about the potential impact the TPP Agreement will have on New Brunswick’s farm families and supply management. I’ve been in regular communication with representatives of New Brunswick’s dairy and poultry industries, and I can appreciate their concern. It will be some time before we can truly assess the impact of the agreement on New Brunswick’s dairy, poultry and egg producers.
2. How will the TPP trade agreement create opportunities for New Brunswick companies to increase exports to Asian markets?
The TPP will eliminate tariffs on almost all of New Brunswick’s key exports and provide access to new opportunities in the Asia-Pacific. This is excellent news! TPP will help deepen Canada’s trade ties in Asia-Pacific region by opening big markets like Japan and emerging markets like Vietnam and Malaysia, while strengthening our existing economic partnerships with our partners in NAFTA as well as with Peru and Chile, with whom Canada already has free trade agreements.
3. Does the Government of New Brunswick support the agreement?
From our perspective supporting the TPP is imperative. The US is our #1 export market, and any changes in the US trade regime will have an impact on how our exporters do business. We’ll continue to work with the Government of Canada to ensure fair treatment for all New Brunswickers.