Premier Christy Clark and Teresa Wat, Minister of International Trade and Minister Responsible for the Asia Pacific Strategy issued this statement today:
“British Columbia commends the Government of Canada for tabling the Text of the Final Agreement of the Canada-Korea Free Trade Agreement (CKFTA) in the House of Commons today. This brings Canada one step closer to implementing an agreement that stands to benefit all Canadians and give British Columbians a strategic advantage in one of our priority markets.
“South Korea is British Columbia’s fourth-largest goods export market and Canada’s third-largest trading partner in Asia, with over half of Canada’s goods exports to Korea originating here in British Columbia. Last year, total goods exports to South Korea were over $1.8 billion. That’s why we operate a Trade and Investment Representative Office in Seoul, with on-the-ground experts focused on advancing trade and investment opportunities between British Columbia and South Korea.
“Once implemented, the CKFTA will further improve the province’s trade relations with our Korean partners, spurring economic growth and job creation. It will provide clear advantages for B.C. companies, with improved, real-market access opportunities, especially in the forestry, natural gas, seafood and agri-foods sectors. For example, the federal government estimates the agreement will increase merchandise exports to South Korea by 32 per cent.
“We hope a finalized deal with South Korea will serve as a springboard for concluding trade agreements with our other priority markets in Asia.
“As we continue to diversify our international trade portfolio and open new markets for our businesses, workers, and investors, we look forward to the increased opportunities for trade and investment that will benefit Canadians and Koreans alike.”
Office of the Premier
Ministry of International Trade and
Ministry Responsible for the
Asia Pacific Strategy and Multiculturalism