Farmscape for June 21, 2018
Canada's red meat sector is hoping the federal government will ratify the Comprehensive Progressive Trans-Pacific Partnership free trade agreement as soon as possible.
Last week the legislation to implement the Comprehensive Progressive Trans-Pacific Partnership was tabled in the House of Commons.
The 11 nation CPTPP has the potential to increase Canadian beef and pork sales by an estimated 500 million dollars.
Chris White, the President and CEO of the Canadian Meat Council, says the agreement offers an opportunity to expand and diversity markets.
Clip-Chris White-Canadian Meat Council:
I think the initial opportunity is particularly with respect to Japan.
Having access to the Japanese market, particularly on the beef side, is pivotal.
In terms of where the industry is looking to go, the challenges have been that other jurisdictions have free trade agreements with some of the countries that have ratified CPTPP so we want to be able to take advantage of that.
It opens up some potential new markets in a way that historically Canada has not exported to and, because we are a signatory to a deal, it give us very favorable terms.
One of the reasons why the red meat sector has been pushing to have the government introduce the legislation and have it ratified is you want to be one of the earlier signatories to the deal to take full advantage of those opportunities before other countries ratify it and they get into those countries and begin to take the market share.
Once that market share has been taken up it will be a challenge for Canada then to source that market.
Secondly, as we look to diversify our market space, the advantage currently is because the Americans are not a signatory to CPTPP that gives us from the perspective of industry a real completive advantage that we want to take advantage of.
White says the red meat sector is pleased the legislation has been introduced and now we need the government to ratify the legislation and let Canadian industries take full advantage.
For Farmscape.Ca, I'm Bruce Cochrane.
*Farmscape is a presentation of Sask Pork and Manitoba Pork