The recent announcement that Canada has officially received an invitation to join the Trans Pacific partnership trade negotiations is good News for Ontario’s grain farmers.
Official talks about the details and terms of that trade agreement will not take place until the fall.
Until that time, the federal government and commodity groups will consider all options and results surrounding the partnership that will encourage business opportunities for Canadian farmers.
“The announcement that Canada is moving forward with Trans Pacific trade talks is very positive,” said Grain Farmers of Ontario (GFO) chairman Henry Van Ankum.
“Our organization encourages the Canadian government’s continued efforts to develop new markets and reduce trade barriers for Ontario’s grain farmers” Van Ankum added.
The GFO supports the Canadian governments’ participation in the trade negotiations because of the large volume of soybean exports to the region.
In 2010, exports to counties already in the partnership made up 43 per cent of the total exports of Canadian soybeans.
If Japan is also given a seat at the negotiations it will provide the best opportunity for market growth for Ontario’s grain farmers.
Japan is an integral part of expanding our international markets, as it is estimated that
Canada holds a 38% share of Japans food grade market for soybeans.
“If both countries enter the Trans Pacific partnership, Canada’s relationship with Japan for exports will potentially strengthen and in turn benefit Ontario farmers,” said Van Ankum.
