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

Nature Wise: How are Canada’s birds doing and do we even care?

Columnist Bob Handfield, president of the South Okanagan Naturalists’ Club

Mix of sun and cloud for the Okanagan-Shuswap-Similkameen region

Environment Canada is forecasting a chance of showers with a risk of thunderstorms for the region

Okanagan-Shuswap weather: Gusty winds and scattered clouds.

Temperatures are expected to reach the high 20s under cloudy skies.

South Okanagan real estate market continues to stabilize, millennials eager to become homeowners

SOREB President Dori Lionello said millenials are carefully watching the market

Okanagan-Shuswap weather: Sun, chances of showers continue through weekend

Environment Canada forecasts mixes of sun, clouds and rain to start the weekend

VIDEO: Okanagan Valley weekday weather update

Environment Canada says it’s going to be a rainy week

Okanagan man rides bike 654km to Alberta for mental health, pipeline awareness

Cycle 2 Change 2019 was made to open up conversation about mental health and Trans-Mountain Pipeline

B.C. couple bring son home from Nigeria after long adoption delay

Kim and Clark Moran of Abbotsford spent almost a year waiting to finalize adoption of Ayo, 3

Dump truck lifts power lines causing fire near South Okanagan school

Emergency responders dealt with two incidents at the same time near KVR Middle School

Car thief to be sentenced in Kelowna B.C. Supreme Court

Stanley Nickason is set to plead guilty on multiple charges

UPDATED: Lane closed after fatal collision on Highway 97 east of Falkland

A man in his 60s is dead after a single vehicle crash on July 15

Health Canada revokes licences of B.C.-based pot producer Agrima Botanicals

The agency said it notified the company of a suspension in November due to non-compliance with regulations

Deals, protests during Amazon Prime Day

The Seattle-based e-commerce behemoth says it is offering more than a million deals

Most Read