Canada has stepped into negotiations to reach a Trans Pacific Partnership (TPP) aimed at reaching a free trade agreement with a group of markets including Australia. Source: Timberbiz
The Forest Products Association of Canada (FPAC) welcomes the government’s move at reaching a free trade deal with the group of markets including Australia, Vietnam and Peru.
Canadian forest companies recognize the need to deepen trade relations with these lucrative and growing consumer markets as The Forest Products Association of Canada said in a press release.
Increased exports are also essential for the forest products industry to reach its Vision2020 goal of generating an additional $20 billion in economic activity from new innovations and growing markets.
Exports of forest products from Canada are now worth $26.4 billion. Canada has a trade surplus in forest products of $17.2 billion, second only to oil and gas.
The $57-billion-a-year forest products industry represents 2 per cent of Canada’s GDP and is one of Canada’s largest employers operating in hundreds of communities and providing 230,000 direct jobs across the country.