The following is excerpted from the 25 April 2013 news release by DFAIT.
…The second round of negotiations toward a Canada-Japan economic partnership agreement (EPA) have been taking place in Ottawa since April 22. Discussions are taking place in a number of key areas, including goods, services, government procurement and customs procedures; good progress is being made across the board…
A Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement found that such an agreement could translate into gains between US$3.8 billion and US$9.0 billion a year for Canada’s gross domestic product—equivalent to almost 30,000 new jobs or a boost of $325 to the average Canadian family’s income. The study also found that an ambitious agreement could grow Canada’s exports to Japan by as much as 67 percent.
Japan is the world’s third-largest national economy and Canada’s fourth-largest merchandise export market. In 2012, total Canadian exports to Japan reached nearly $10.4 billion. Leading merchandise exports to Japan included mineral fuels and oils, oil seeds and mineral ores. With nearly $12.8 billion invested in Canada in 2011, Japan is Canada’s largest source in Asia of job-creating investment.
This news release is available in its entirety at: http://www.international.gc.ca/media_commerce/comm/news-communiques/2013/04/25a.aspx?lang=eng.