“A successfully concluded Trans-Pacific Partnership agreement would protect and create Canadian jobs, and grow our economy by giving Canadian businesses access to some of the most dynamic markets in the world.
“Manufacturing is a high-skill, high-tech sector that directly employs 1.7 million Canadians and supports nearly 3 million more through indirect and induced effects. Moreover, it is the largest investor in research and development in Canada. Manufactured goods are a key economic driver in Canada, Accounting for almost 11 percent of Canada’s GDP”
“Canada is a nation endowed with a wealth of natural resources and people with the skills and expertise to turn them into a wide variety of manufactured products. The TPP presents the opportunity for Canada’s manufactured goods to gain preferential access across the TPP region, which represents a market of almost 800 million consumers and a combined GDP of $28.5 trillion- close to 40% of the world’s economy.
“Additionally, a concluded TPP would provide Canada’s world-leading services sector more transparent and predictable access to the fast-growing Asia-Pacific region, giving Canadian companies a competitive edge in these lucrative markets.
“The Government of Canada continues our work at the TPP negotiating table to protect and create Canadian jobs and grow Canada’s economy.”
Response from ITAC:
“At ITAC we are always looking at ways to develop new opportunities for our members to scale their business beyond Canadian market. The Trans-Pacific Partnership is an important 21st century trade agreement that provides access to some of the largest ICT markets. Trade is a key element of Canada’s competitiveness in the global economy. Together we must help Canadian business understand the benefits foreign markets hold and seize the opportunities the new trade agreements can present,” said Karna Gupta, President and CEO of ITAC.
Quick Facts (with release):
- One in five workers in more than 360 communities across Canada is employed in manufacturing. (Source: Statistics Canada, National Household Survey, 2011
- Canada’s services industry accounts for roughly 70% of Canada’s GDP and employs three out of four working Canadians – more than 13.6M people – making it by far the largest sector in Canada.
- The TPP is expected to increase Canada’s services exports to TPP countries by approximately $3B annually.
- In 2014, trade in services accounted for 16.8% of Canada’s total trade.
- As the 19th largest supplier of industrial machinery to Japan and 16th largest to Australia in 2014, Canada’s manufacturing industry is well positioned under TPP to meet the growing needs in these markets.
- From 2012-14, Canada’s exports of industrial machinery to TPP countries were worth, on average, $10.1B annually.
- Canada’s ICT sector contributes more than $9.3B to Canada’s GDP annually.
- From 2012-2014, Canada’s exports of ICT to TPP countries amounted to $7B annually.
- From 2012-2014, Canada’s aerospace exports to TPP markets were worth an average of $10.2B annually.
- The Canadian Aerospace sector is one of Canada’s top manufacturing sectors. Canada is ranked 3rd in the world in civil aircraft production. Nearly 80% of the sector’s output is exported
- The Canadian aerospace industry is comprised of over 700 companies of all sizes, and aerospace manufacturing is responsible for over 49,000 direct jobs.
- Between 2012-14, Canada’s aerospace exports to TPP markets were worth an average of $10.2B annually.
- The Canadian Life Science industry spans the research-development-manufacturing chain. Industry players include small and medium-sized companies developing diagnostics, biopharmaceuticals, pharmaceuticals and medical devices.
- In 2014, the pharmaceutical and medical equipment manufacturing sectors employed close to 43,700 people.
- AUS, NZ and Japan are key markets for products of Canada’s life sciences sector.
- From 2012-14, Canada’s exports of life sciences products (medical devices and pharmaceuticals) to TPP countries were worth, on average, $7.1B annually.
- From 2012-2014, Canada’s exports of life sciences products (medical devices and pharmaceuticals) to TPP countries were worth, on average, $7.1B annually.