Natural Resources Canada

Natural Resources Canada

April 27, 2012 11:59 ET

The Honourable Joe Oliver Highlights the Benefits a Potential Canada-EU Trade Agreement Would Bring to Ontario

Deeper trade with Europe will bring jobs, growth and long-term prosperity to hard-working people in Ontario and their families, and to businesses of all sizes, says Minister Joe Oliver.

TORONTO, ONTARIO--(Marketwire - April 27, 2012) - The Honourable Joe Oliver, Minister of Natural Resources, and Member of Parliament for Eglinton-Lawrence, and Harper government ministers throughout Canada are today highlighting the benefits that a potential trade agreement with the European Union would bring to every region of the country, including jobs, growth and long-term prosperity to the people of Ontario.

"An ambitious agreement with the European Union would be a big win for workers, businesses and families right here in Toronto," said Minister Oliver. "Throughout the province, hard-working Canadians will benefit, especially in key sectors of the local economy such as financial services, electronics, and agriculture.

The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, delivered a keynote address at the Economic Club of Canada in Ottawa to mark events being held nationwide, which highlight the benefits an ambitious trade agreement would bring to every region of the country. "A trade agreement with Europe is a key part of our government's pro-trade plan to create jobs, growth and long-term prosperity for hard-working Canadians," said Minister Fast.

"More than 60 percent of Canada's annual income (gross domestic product) and the jobs of one in five Canadians are generated by trade," said the Minister. "An ambitious trade agreement with the European Union would benefit Canada significantly: a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada's economy. That is equivalent to an increase of $1,000 in the average Canadian family's income or 80,000 new jobs, which would benefit all regions of our country. This is why workers and businesses of all sizes, across all sectors of our economy, strongly support a Canada-EU trade agreement, which we are on track to concluding."

The EU is Canada's second-largest trading partner and the world's largest integrated economy, with over 500 million consumers and a GDP of over $17 trillion. The ongoing trade negotiations with the EU represent Canada's most significant trade initiative since the North American Free Trade Agreement (NAFTA).

Contact Information

  • Patricia Best
    Director of Communications
    Office of the Minister
    Natural Resources Canada