Prince Rupert business leaders welcome Trans-Pacific Partnership

Many political pundits have already weighed in on how the Trans-Pacific Partnership (TPP) signed by the Canadian federal government.

Many political pundits have already weighed in on how the Trans-Pacific Partnership (TPP) signed by the Canadian federal government earlier this fall will affect different sectors of the Canadian economy.

The Pacific Rim trade deal between Canada and 11 other countries has different ramifications for farmers, who are being compensated $4.3 billion over 15 years for any lost income, than it does for the raw minerals industry than it does for the auto sector or the lumber industry.

Here in Prince Rupert, the TPP brings exciting prospects to many businesses and residents who call the North Coast home. With tariffs on Canadian exports to Japan, the world’s third-largest economy, coming down in the coming years, as well as decreased tariffs in countries ranging from Chile to Malaysia to Vietnam to Singapore, the Port of Prince Rupert, which already ships and receives millions of tonnes of cargo per year, consisting of agri-food, biofuel, metallurgical coal, wheat, canola, logs, containers and more, may potentially see a drastic rise in traffic volumes as Canadian exporters take advantage of the trade deal.

“The Trans-Pacific Partnership enables improved market access for trading between countries. The Port of Prince Rupert is supportive of all efforts that grow Canada’s participation in two-way trade. 3,000 jobs in northern B.C. depend on trade through our gateway – a number that’s doubled in just five years,” said Prince Rupert Port Authority manager of corporate communications Michael Gurney.

“Importantly, the TPP participants are countries within the Asia-Pacific region which are key origins and destinations of Prince Rupert cargo traffic. Growth in the Port of Prince Rupert’s trade volumes — positively affected by the TPP’s effects on market reach and streamlined customs clearance procedures — will increase jobs, business opportunities in northern B.C.’s supply chains, and the tax base for all levels of government.”

The Prince Rupert and District Chamber of Commerce and the B.C. Chamber of Commerce also support the deal.

“[The two Chambers] applaud the Oct. 5 announcement that Canada has successfully concluded negotiations to the Trans-Pacific Partnership,” said chamber president Rosa Miller.

“The TPP agreement is good for B.C. and, in turn, good for our community as we continue to move towards becoming a brighter star and a key piece in the provincial and Canadian economy. We agree with [B.C. Chamber president and CEO] Jon Garson, when he says that negotiations are a give-and-take. While Canada had to move on key interests such as managed dairy and poultry products, the net benefit from gaining market access for goods while removing restrictions on services, investments, financial services, etc… is too good to pass up,” Miller continued.

The Government of Canada’s Foreign Affairs, Trade and Development Canada website cites the TPP deal as the “most comprehensive trade agreement in the world” that “will help deepen Canada’s trade ties in the dynamic and fast-growing Asia-Pacific region while strengthening our existing economic partnerships with our partners in the NAFTA (North American Free Trade Agreement) and across the Americas”.

The deal has yet to be ratified by the new Liberal Government of Canada, but the party said before the Oct. 19 federal election that it would “hold a full and open public debate” in Parliament about the agreement.

“The Trans-Pacific Partnership stands to remove trade barriers, widely expand free trade for Canada, and increase opportunities for our middle class and those working hard to join it. Liberals will take a responsible approach to thoroughly examining the Trans-Pacific Partnership,” read a statement.

Just Posted

Prince Rupert students learn to chase away anxiety

Author Amanda Stern presented at Prince Rupert Middle School on Feb. 22

Northern residents rejoice at increased BC Ferries sailings

B.C. government announced that service will be restored to 2014 levels

Rio Tinto donates $50K for Shames Mountain chairlift upgrades

The money was used to purchase the chairlift’s bull wheel replacement last summer

More sailings coming to 10 BC Ferries’ routes

Transportation Minister Claire Trevena said the sailings were originally cut in 2014

Cullen remains uncertain about political future

Says he’ll make decision in early March

Ice skating on the North Coast, a rare treat

Seawolves hockey players bring their gear to Oliver Lake this week to play on the outdoor rink

Legislation to protect B.C. farmland comes into effect

Regulations enhance food security, encourage long-term farming

Have you heard the legend of Shuswaggi, the Shuswap Lake monster?

Witness accounts as old as 1904, and as recent as 2018, place a creature in the lake’s depths

UPDATE: B.C. ticket holder winner of $25.9-million Lotto Max jackpot

Next draw set for Mar. 1 with an estimated jackpot of $10 million

B.C.-based ‘Team Tardi’ brings home gold in junior curling worlds

In a 9-4 victory over Switzerland, a Langley-based curling team earned its 2nd straight world title

People gather for funeral of seven children killed in fast-moving Halifax fire

Traditional portion of the service will be followed by words from community members

B.C. weavers to help Alaska Native project honouring survivors of violence

Dozens of Chilkat and Ravenstail weavers from all over North America will be weaving 5-inch-by-5-inch squares

B.C. skip Sarah Wark and team eliminated at Scotties Tournament of Hearts

Nontheless pretty impressive stuff from the 24th-ranked team in the country

Pope’s sex abuse prevention summit explained

It’s A high-stakes meeting designed to impress on Catholic bishops the global problem

Most Read