Supply Management Hurting Major Transpacific Trade Opportunity: Experts

(Embassy – Laura Payton)

Eight Asia-Pacific countries will meet in March to negotiate a trade agreement as Canada sits on the sideline

Even as Prime Minister Stephen Harper works to turn Canada’s diplomatic and economic focus more towards Asia, the government may have missed out on a key chance to shape a new and expanding transpacific trade agreement. And experts say a major reason may have been Canada’s ongoing insistence on protecting supply management.

The Trans-Pacific Strategic Economic Partnership Agreement, or TPP, began as a four-country Pacific free trade agreement that came into force in 2006. Initially it encompassed only New Zealand, Chile, Brunei and Singapore. However, those countries want to expand to more markets. Canada could have joined years ago, but has so far remained on the sidelines while its major competitors jump on board. Read more here.