Minister of International Trade Teresa Wat has made the following statement on the conclusion of negotiations on the Trans-Pacific Partnership (TPP):

“British Columbia congratulates all member countries for concluding negotiations. B.C. has been actively participating in the negotiations, working closely with the federal government's negotiating team to represent B.C.'s objectives in the full range of issues covered by this agreement.

“Our priority objective for international trade agreements has always been a fair and open marketplace where B.C. businesses can compete on an equal footing with any other business in the world.

“As Canada’s Pacific Gateway, B.C. stands to gain from increased trade in goods and services with TPP markets. The TPP also represents an opportunity for B.C. to position itself as an economic gateway between Asia and the Americas.

“Once ratified, a successful TPP trade agreement will give B.C.’s exporters of goods and services better access to key Pacific Rim markets. These are markets identified in the BC Jobs Plan with which Canada does not currently have free trade agreements. For example, we want to expand trade with Southeast Asia, and this agreement would give us improved access to countries like Brunei Darussalam, Malaysia, Singapore and Vietnam.

“This comprehensive agreement will be a significant boost to our forestry, manufacturing, beef, agrifoods, seafood and other industries.

“And, where there have been concerns, the federal government has stated that programs and initiatives for supply-managed producers and processors will be available to support them throughout the implementation of the Trans-Pacific Partnership and the Canada-EU Trade Agreement. Under both agreements, the three pillars of the supply management system will remain protected.

“The agreement would also help attract foreign direct investment to the province and level the playing field for B.C. companies by establishing a common set of rules for trade and investment that all TPP parties must abide by.

“We eagerly look forward to the ratification of this agreement. By making it easier for trade and investment between Canada and TPP member countries, the key outcome of the agreement is clear: more jobs and economic opportunities for British Columbians.”