Premier Christy Clark and Teresa Wat, Minister of International Trade and Minister Responsible for the Asia Pacific Strategy, issued this statement today:

“British Columbia is uniquely positioned to benefit from many new trade and investment opportunities in South Korea, now that the Canada-Korea Free Trade Agreement is ratified and on track to go into effect on Jan. 1, 2015. We commend the Canadian federal government and the South Korean government on this pioneering achievement — Canada’s first free trade agreement with an Asian trading partner.”

“As a multicultural province and Canada’s gateway to the Asia Pacific, British Columbia already enjoys a strong trade relationship with South Korea, the province’s fourth-largest goods export market. This agreement is expected to increase trade between Canada and South Korea by over 30%, and benefit key sectors in British Columbia such as forestry, liquefied natural gas, seafood and agrifoods.”

 “The ratification of this agreement establishes a level playing field for both British Columbia and the rest of Canada, allowing us to be more competitive with other jurisdictions that have free trade agreements in place. British Columbia has many competitive advantages when it comes to doing trade with Asia, and this free trade agreement will bring additional economic opportunities for our province and create more jobs for British Columbians.”  

For more information on the Canada-Korea Free Trade Agreement, visit:
http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/korea-coree/index.aspx?lang=eng

Media Contacts:

Sam Oliphant
Press Secretary
Office of the Premier
250 952-7252

Ministry of International Trade
Media Relations
250 356-5613