CANADA’S CHEMISTRY INDUSTRY WELCOMES TRANS-PACIFIC PARTNERSHIP
October 5, 2015
The Chemistry Industry Association of Canada (CIAC) welcomes the conclusion of the Trans-Pacific Partnership (TPP) negotiations.
“CIAC has consistently supported the elimination of trade barriers between countries to enhance industry competitiveness and stimulate economic growth,” says Richard Paton, CIAC’s President and CEO.
Canada already has free trade agreements with a number of the TPP countries and this new agreement will open potential new market opportunities in Australia, Brunei, Japan, Malaysia, New Zealand, Singapore and Vietnam. In 2014, Canadian exports of chemicals to TPP countries totalled $29 billion. CIAC expects this number to climb in the coming years.
CIAC represents the interests of Canada’s leading chemistry companies – from petrochemical, inorganic and specialty chemical producers to bio-based manufacturers. Canada’s chemistry industry employs 81,000 Canadians directly, and supports another 485,000 jobs in the Canadian economy.