Ottawa, March 8, 2017
Canadian Manufacturers & Exporters (CME) congratulates the federal Minister of International Trade for today signing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Santiago, Chile. CME is a strong supporter of free trade and this agreement will provide market access to one of the largest trade blocks in the world.
“Canada’s market is simply too small to support the growth ambitions of Canadian industry. Reciprocal access to Asian markets is critical to the future prosperity of the manufacturing sector, said Dennis Darby, President & CEO of CME. “The CPTPP encourages market diversification and will open market to several hundred million of new consumers for Canadian made goods.”
“However, merely signing the CPTPP will not necessarily ensure Canadian economic growth”, added Darby. “Historically, the Canadian industry has been challenged in benefiting from free trade agreements through value-added exports. If we want to grow our economy and create new jobs to strengthen the middle class through expanded trade, Canada must take decisive action to make industry more competitive and globally ready.”
CME is working with the government and the industry to find solutions to better support Canadian businesses looking to export and to enhance the manufacturing sector’s competitiveness through tax reforms and strengthening of the labour force by encouraging greater female representation.
ABOUT CANADIAN MANUFACTURERS & EXPORTERS
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.
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