After 12 countries participating in the negotiations Trans-Pacific Partnership (TPP) to reach a consensus about largest’s regional trade agreements in history, accounting for 40% economy in global trade, many countries have made a positive assessment about this event.
On October 5, Canadian Prime Minister Stephen Harper has reassured a speech concerns the domestic industry on the initial impact of joining the TPP agreement and confirms that this agreement is good for Canadian economy. Many large corporations and opposition parties in Canada also welcomed the achievement of this historic agreement.
Reporters of Vietnam News Agency in Canada, said in a speech in Ottawa immediately after the trade minister of 12 countries participating in the negotiations to reach an agreement on the TPP rule, Prime Minister Harper has called it as the largest trade agreement in history.
He affirmed that all areas of Canada are local and benefit from participants in the TPP and Conservative (CPC) will boost his execution of this agreement if he win in the upcoming general election.
According to the CEO of the Blackberry John Chen Group, TPP “will remove trade barriers and enable Canadian businesses to compete purely based on product quality and service.”
According to regulations on the TPP, in the next 5 years when the agreement takes effect, Canada will have to open their markets with products as: milk, eggs, chicken, beef, pork, lamb, seafood, lumber and industrial products for countries in TPP.
Also, in that same period, Canada would have to remove taxs at 6.1% for the imported CBU cars from countries in the TPP and reducing regulations on origin product ratio from 62.5% to 45% for automobile manufacturing units in the country and 40% for auto parts items.