#Trans-PacificPartnership, #NAFTA, #IanMcKay, #Tokyo #NorthAmericanFreeTradeAgreement
Ottawa, Jan 23 (ICandian-Media): Canada and other members of the Trans-Pacific Partnership (TPP) excluding United States, agreed Tuesday to a revised trade agreement, media reports said.
Canada is reportedly the second-largest economy among the TPP members.
Justin Trudeau/ Facebook page
Besides Canada, the other partners included are Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
The confirmation of the deal between Canada and the 10 other remaining TPP economies was done by Singapore government in Tokyo
Signing of this agreement was reported to be in early March.
Canada's TPP agreement was reached in the midst of Canada's tough renegotiation of the North American Free Trade Agreement (NAFTA).
According to official reports the meeting of the NAFTA negotiators from Canada, the United States and Mexico would take place in Montreal this week.
Ian McKay, Vancouver Economic Commission chief executive joined Canada's chief and deputy chief TPP negotiators in Tokyo as Trudeau's special envoy for two days of talks that were scheduled to conclude on Tuesday.
Included in the number of changes agreed to by TPP trade ministers were stronger protections for the environment and labour rights.
The pact was also rebranded as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
According to reports it is hoped that this deal would open up access for Canada to Japan's economy, -- the third-largest in the world -- and would be beneficial for Canada's agricultural, seafood and forestry sectors.
(Reporting by Asha Bajaj)