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

Rampage come from behind to beat Ice Demons

Prince Rupert scored five goals in the third period to secure the win on Jan. 18

City of Prince Rupert still waiting on street light upgrades

Ministry of Highways and Infrastructure said work would be complete in 2018

How sweet it is: Sugar Shack is back for ninth year

On Jan. 23 the popular Francophone festival in Prince Rupert kicks off with a social

City of Prince Rupert to explore funding for Kwinitsa airport ferry

New roll-on, roll-off berth would be called “Rupert’s Landing”

RCMP asks again for public’s assistance to find Binh Tran

Tran was last seen around the 1600 block of Park Avenue on Dec. 11

Fashion Fridays: Inspirational gym outfits

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

Want to avoid the speculation tax on your vacant home? Rent it out, Horgan says

Premier John Horgan and Sheila Malcolmson say speculation and vacancy tax addresses homelessness

UPDATE: B.C. woman and boy, 6, found safe, RCMP confirm

Roseanne Supernault says both she and her six-year-old nephew are fine and she has contacted police

PHOTOS: Women’s Marches take to the streets across B.C. and beyond

Women and allies marched worldwide protesting violence against women, calling for equality

Anxiety in Alaska as endless aftershocks rattle residents

Seismologists expect the temblors to continue for months, although the frequency has lessened

Women’s March returns across the U.S. amid shutdown and controversy

The original march in 2017, the day after President Donald Trump’s inauguration, drew hundreds of thousands of people

Federal Liberals announce former B.C. MLA as new candidate in byelection

Richard Lee will face off against federal NDP leader Jagmeet Singh

No winning ticket in $10 million Lotto Max jackpot

No win in Friday night’s draw means the next Lotto Max draw will be approximately $17 million

Most Read