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Minister Fast Concludes Productive Week-Long Trade Mission to Asia

After successful trade mission to China and APEC Summit, Minister Fast advanced Canadian pro-trade, pro-export plan in Japan

November 13, 2014 – Tokyo, Japan – Foreign Affairs, Trade and Development Canada

The Honourable Ed Fast, Minister of International Trade, today concluded his fourth trade mission to Japan, where he continued to advance and promote Canada’s commercial interests within the Asia-Pacific region.

During his two-day trade mission to Tokyo, Minister Fast welcomed a number of recent Canadian successes in Japan, from the aerospace sector, including Bell Helicopter and CAE, to retail with Montréal-based m0851. He also welcomed recent job-creating investments in Canada by Japanese companies, including digital media firm gumi Inc., which recently opened its first office in Vancouver, and Muji, a Japanese housewares and lifestyle retailer that will open its first store in Toronto on November 29, 2014.

In a meeting with Yoichi Miyazawa, Japan’s Minister of Economy, Trade and Industry, Minister Fast discussed efforts to promote deeper trade and investment partnerships, and marked the upcoming negotiating round of the Canada-Japan economic partnership agreement (CJEPA). The seventh round of CJEPA negotiations will take place in Tokyo from November 17 to 21, 2014.

Minister Fast’s trade mission builds on recent trade missions to Japan by the Honourable Gerry Ritz, Minister of Agriculture and Agri-Food, in April 2014, and the Honourable Greg Rickford, Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario Natural Resources, last week.

Minister Fast began his Asia visit in China, where he joined Prime Minister Stephen Harper to lead a trade mission of Canadian companies to Hangzhou and Beijing. During the bilateral visit, Prime Minister Harper announced the locations of four new trade offices in China that will provide on-the-ground support for Canadian businesses, especially small and medium-sized enterprises, as they look at new opportunities to boost their exports.

On the margins of APEC, Minister Fast met with his South Korean counterpart and highlighted the opportunities of the Canada-South Korea trade agreement and discussed his upcoming trade mission to South Korea in February 2015.

Minister Fast also delivered Canada’s pro-trade message at the second day of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in Beijing, where he highlighted Canada’s accomplishments, including the Canada-European Union Comprehensive and Economic Trade Agreement, the Canada-Korea Free Trade Agreement (FTA) and numerous foreign investment promotion and protection and air agreements.

Quick Facts

  • Japan is Canada’s fourth-largest merchandise export market and Canada’s second-largest trading partner in Asia, making it an important market for Canadian businesses and a priority country under Canada’s Global Market Action Plan.
  • In 2013, bilateral merchandise trade was valued at more than $24 billion.
  • At the end of 2013, Japan was Canada’s sixth-largest source of foreign direct investment (FDI) and the largest FDI source from Asia, with a stock valued at $17.3 billion. In 2013, Canadian direct investment in Japan was valued at $4.7 billion.
  • Collectively in 2013, APEC countries accounted for 57.6 percent of the world’s gross domestic product and 39.9 percent of the world’s population. In 2013, APEC also made up 83 percent of Canada’s merchandise trade and includes Canada’s top four trading partners (United States, China, Mexico and Japan).
  • This is Minister Fast’s 17th visit to Asia as international trade minister, including four trade missions to Japan and six to China.
  • Canada continues to expand commercial relations in the dynamic and fast-growing Asia-Pacific region through trade agreements, such as the historic Canada-Korea FTA, and vigorous trade promotion efforts.

Quotes

“Japan offers great potential and opportunities for Canadian businesses looking to boost their exports. As Japan continues to grow its economy for the future, Canada can be an important, reliable and trusted partner for high-quality goods and services, including energy and natural resources.

“As part of our government’s ambitious pro-export plan, our priority is to improve access to strategic markets in the Asia-Pacific region and support Canadian companies as they create jobs and opportunities for hardworking Canadians in every region of the country.”

– Ed Fast, Minister of International Trade

Associated Links

Contacts

Rudy Husny
Director of Communications
Office of the Honourable Ed Fast
Minister of International Trade
613-992-7332

Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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