Pat Bell, Minister of Jobs, Tourism and Innovation, says he is pleased with the collaborative approach the federal government is taking on trade and looks forward to further pursuing B.C.'s interest in enhanced trade with Asia.

Bell attended the annual meeting of federal, provincial and territorial ministers responsible for international trade in Ottawa this week, where Prime Minister Stephen Harper's recent trip to China was discussed. One of the most significant outcomes of the Prime Minister's trip was the announcement of a Foreign Investment Promotion and Protection Agreement. The government of Canada's commitment to complete a trade and economic study by May 2012 is particularly welcome. The study is designed to identify tangible solutions to improving trade and investment.

B.C. has enjoyed spectacular success in Asia and exports to the key markets identified in 'Canada Starts Here: The BC Jobs Plan' - China, Japan, India and South Korea - rose 23.3 per cent in 2011 over the previous year. However, potential exists for even greater growth in these markets, which is why the Province is so supportive of Canada's expression of interest in joining the Trans-Pacific Partnership negotiations. This multilateral agreement will encompass a free trade zone of 950 million people with a combined gross domestic product of more than $28 trillion.

India represents an extraordinary opportunity for B.C., which is another reason why these negotiations are so important. India has one of the fastest-growing economies and is set to become the world's third-largest economy by 2020. As an indication of the vast potential of the Indian market, its middle class is 10 times the size of the Canadian population.

The ministers also received an update on the status of the Canada-European Union Comprehensive Economic and Trade Agreement and the Canada-India Comprehensive Economic Partnership Agreement.

Quotes:

Pat Bell, Minister of Jobs, Tourism and Innovation -

"We have seen trade with Asia as critical for some time, so I'm thrilled that progress has been made at the federal level to negotiate with Asian trading partners."

"This has been a very successful meeting, and a great deal of collaboration is underway with India and the E.U. It's essential that we maintain the momentum. Trade with Asia is crucial, and B.C. will continue to play a vital role in forging closer links with the region."

Learn More:

Canada Starts Here: The BC Jobs Plan: www.BCJobsPlan.ca

Contact:

Matt Gordon
Government Communications and Public Engagement
Ministry of Jobs, Tourism and Innovation
250 356-9869