B.C. business likes Pacific trade deal

B.C. farm, forest products face tariffs in Japan, Malaysia, Vietnam, Australia and New Zealand

Jobs

B.C.’s Asia trade will benefit from the Trans-Pacific Partnership, the world’s largest free trade agreement, reached Monday after all-night discussions with 11 Pacific Rim countries, according to business and provincial government officials.

Jobs Minister Shirley Bond cautioned that legal work and ratification by the 12 countries involved still remains to be done, but the TPP removes barriers for B.C. producers of seafood, minerals, forest and farm products in countries such as Japan, Malaysia and Vietnam.

“Generally speaking, any time British Columbia can compete on a fair and level playing field, we’re going to do well,” said Bond, citing trade growth in cherries, blueberries and wood products.

Much of B.C.’s progress in lumber exports has been in China, which is not part of the TPP talks. B.C. averages $4.8 billion annually in forest products to TPP countries and 1.5 billion worth of pulp and paper, despite duties up to five per cent in Australia and New Zealand, up to 10 per cent in Japan and up to 40 per cent in Malaysia.

The B.C. Chamber of Commerce says fish and seafood are currently subject to 15 per cent duty in Japan and Malaysia, up to 34 per cent in Vietnam and up to five per cent in New Zealand. Beef, fresh and frozen vegetables, fresh cherries and fresh and frozen blueberries also face tariffs in Asian countries.

The tentative deal has emerged as a major issue in the federal election campaign. Prime Minister Stephen Harper outlined a $4 billion “income guarantee program” for Canada’s protected dairy and egg producers, to compensate farmers for lost income due to new foreign imports for 10 years after the TPP takes effect.

NDP leader Thomas Mulcair blasted the agreement as a “sellout” of Canadian auto workers and farmers that will also see drug prices rise in Canada. Mulcair said his party would not be bound by the agreement if it forms the new government on Oct. 19.

Liberal leader Justin Trudeau said his party is pro-free trade, but will study the agreement and “take the responsible time to do what’s right for Canada.”

 

Just Posted

Chemainus campground on the chopping block as ALC deadline looms

Owners fighting to continue facility’s operation, with a huge outpouring of support

Malahat truck crash cleared but over 200 still without power

Hydro poles taken out in Monday afternoon crash

VIDEO: Hold onto your funny bones: Ron James is back on the Island

He’s been called ‘a genius’, and ‘funniest man in Canada’. Find out why when he comes to town.

Controversial Chemainus building must be torn down

Weight of evidence from bylaw enforcement staff and police is enough for North Cowichan council

UPDATE with VIDEO: Home on Allenby Road suffers early morning fire

The fire department was first called to the scene at 6:30 a.m.

Canucks sign Brock Boeser to three-year, US$17.6-million deal

Young sniper will be in Vancouver Tuesday

B.C. forest industry looks to a high-technology future

Restructuring similar to Europe 15 years ago, executive says

RCMP conclude investigation into 2017 Elephant Hill wildfire

Files have been turned over to BC Prosecution Service

B.C. wants to be part of global resolution in opioid company bankruptcy claim

Government says settlement must include Canadian claims for devastation created by overdose crisis

Two Nanaimo residents share $5-million Lotto 6/49 prize

Jesse Logan and Teresa Winters Day matched all six numbers in Aug. 21 Lotto 6/49 draw

B.C. ends ‘birth alerts’ in child welfare cases

‘Social service workers will no longer share information about expectant parents without consent’

U.S. student, killed in Bamfield bus crash, remembered as ‘kind, intelligent, talented’

John Geerdes, 18, was one of two UVic students killed in the crash on Friday night

Free Tesla 3 offered with purchase of Surrey townhome

Century Group’s offer for Viridian development runs through Oct. 31

Most Read