Canadian Legislation Introduced to Implement the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP)
On Thursday 14th June 2018, the Honourable François-Philippe Champagne, Canada’s Minister of International Trade, introduced the proposed legislation to implement Canada’s rights and commitments under the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) in the Parliament of Canada. Bill C-79, entitled “An Act to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam”, was published later the same day and is available online for review at http://www.parl.ca/LegisInfo/BillDetails.aspx?Language=E&billId=9970461.
The draft legislation includes proposed amendments to the Customs Act, the Customs Tariff, the Export and Import Permits Act, the Canadian International Trade Tribunal Act, the Investment Canada Act, the Trade-marks Act, the Commercial Arbitration Act, and the Financial Administration Act, and sets forth other provisions necessary to incorporate Canada’s CPTPP obligations into domestic law. The Bill also includes a brief section entitled “Explanatory Notes”, which identifies which statutory provisions are new and sets out the text of existing provisions for the purposes of comparison against the proposed text that will amend them.
The United States withdrew from the Trans-Pacific Partnership (TPP) on January 30th last year, after the agreement had been concluded with the other eleven members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On January 23rd, the eleven remaining members of the agreement announced the conclusion of their discussions on a revised version of the free trade pact. Re-branded the “Comprehensive and Progressive Trans-Pacific Partnership” (CPTPP), the new deal was signed on March 8 at a ceremony in Santiago, Chile.
Preferential market access under the CPTPP is expected to provide Canadian goods with a competitive advantage over US exports in important consumer and industrial markets in Japan and other CPTPP countries.
Tereposky & DeRose LLP regularly provides advice on the interpretation and application of the provisions of international trade agreements, including the CPTPP, the CETA, and the NAFTA. Should you have any questions regarding potential opportunities under these trade agreements or any other trade related issues, we are at your disposal.