Ottawa (VNA) – Canadian Minister of International Trade Diversification Jim Carr opened thesecond reading of the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) in the House of Commons on September 17.

He highlighted the CPTPP’spotential to significantly boost Canada’s gross domestic product by supportinggrowth for businesses and workers in a range of economic sectors.

Carr underlined how the CPTPPwill provide increased opportunities for Canadian exporters and investors bygiving them preferential access to 10 thriving and dynamic markets, includingJapan, Malaysia, Vietnam and Singapore. 

The agreement was first introduced at Canada’s lower house in June 2018. Thecountry sets to ratify the CPTPP this autumn, becoming one of the first sixcountries approving the deal.

The same day, the CPTPP was ratifiedby the Australian Lower House with 71 out of 71 votes.

The deal will be submitted tothe Senate for consideration and approval.

The CPTPP groups Australia,Japan, Malaysia, Vietnam, Singapore, Brunei, New Zealand, Canada, Mexico, Peruand Chile. It has been passed by Mexico, Singapore and Japan and is expected tobe ratified by New Zealand, Peru and Canada in the coming months.-VNA