#TradePromotion; #UK; Canada; #CPTPP; #WTO
Ottawa/Canadian-Media: During a virtual meeting held yesterday between Mary Ng, Minister of Small Business, Export Promotion and International Trade, and Liz Truss, Secretary of State for International Trade for the United Kingdom, they discussed promotion of trade between two countries to ensure a continued and sustainable global economic recovery from the Covid-19 pandemic.
CPTPP. Image credit: international.gc.ca
Recent Canada-UK Memorandum of Understanding, signed in December 2020, which sets out commitments of each country to ensure continued preferential tariff treatments until the Canada-U.K. Trade Continuity Agreement (TCA) is ratified and implemented.
Ng said she looks forward to working with all Canadian parliamentarians to adopt this important legislation soon to enable businesses to continues and launching negotiations for a new comprehensive free trade agreement with the United Kingdom, with a focus on supporting small businesses, women, the environment, and digital trade and welcomed the UK’s formal interest in acceding to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
They also discussed the merit of multilateralism in trade including the work being done at the World Trade Organization. Ng reiterated Canada’s interest in working with the United Kingdom at the WTO in order to advance the common interests of both countries, particularly in the areas of trade and the environment, and trade and health.
The need for multilateral cooperation to strengthen global supply chains, the flow of essential medicines and medical supplies was also stressed by Ng, particularly in the context of the COVID-19 pandemic.
Both said that they are looking forward to working together during the UK’s G7 presidency, in order to advance their shared priorities.