TORONTO, July 2, 2013 /CNW/ - The Japan Automobile Manufacturers Association of Canada (JAMA Canada) continues to be encouraged by the efforts of the Canadian and Japanese governments to pursue an Economic Partnership Agreement (EPA) and looks forward to a successful third round of negotiations during the week of July 8 in Tokyo, Japan.
Commenting on the upcoming discussions, Jerry Chenkin, JAMA Canada's Chairman said: "Canada and Japan have a long history of harmonious relations, largely complementary economies and there are tremendous benefits for both countries if a deal can be reached. We urge the negotiating teams to build on this history, accelerate the discussions and complete the EPA as soon as possible, particularly given the focus of both countries on larger, more complicated negotiations including the Trans-Pacific Partnership."
One third of Japanese vehicles sold in Canada are imported from Japan - these include some of the most technologically advanced vehicles offering safe, reliable and more environmentally friendly transportation that would benefit from eliminating Canada's 6.1% import tariff.
"The successful ratification of the Canada-Japan EPA will mean that our members can bring new, affordable, high-tech, fuel-efficient vehicles to Canada. That means more choice for Canadian drivers," said Mr. Chenkin.
Apart from a level playing field for all automakers, other benefits for the Canadian economy and Canadian consumers include:
- GDP gains from a Canada-Japan EPA would be as much as US$ 9 billion for Canada and as much as US$ 4.9 billion for Japan.1
- The reduction of the tariff by the EPA would add further impetus for increased trade and new business opportunities between Canada and Japan.
- As a comprehensive free trade negotiation, the EPA goes far beyond tariffs by addressing non-tariff trade barriers, technical standards, intellectual property rights and other issues, encouraging cross-border investment and creating well-paid skilled jobs for Canadians.
About JAMA Canada:
JAMA Canada was established in 1984 to enhance understanding on trade and economic issues in the automotive sector and to promote closer cooperation between Canada and Japan. While the auto industry in Canada has changed dramatically over the past twenty years, we continue to pursue our original mandate. For more information, please visit: http://www.jama.ca/
1 Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement, http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/japan-japon/study-report_rapport-etude.aspx?lang=eng
SOURCE: Japan Automobile Manufacturers Association of Canada
For further information:
For media inquiries please contact:
David Worts, JAMA Canada
Niina Davis, H+K Strategies
Tel: 416 413 4602