Canada-Korea FTA opens doors for BC companies

Premier Christy Clark and Teresa Wat, Minister of International Trade and Minister Responsible for the Asia Pacific Strategy, issued a statement in regards to the signing of Canada-Korea Free Trade agreement. 

“British Columbia commends Prime Minister Stephen Harper and President Park Geun-hye of South Korea for signing the Canada-Korea Free Trade Agreement (CKFTA) today. We are pleased this agreement between Canada and South Korea has been reached and offer congratulations on this significant achievement — Canada’s first free trade agreement with an Asian trading partner,” stands in the statement.

The statements further said that South Korea is British Columbia’s fourth-largest goods export market and Canada’s third-largest trading partner in Asia, with over half of Canada’s goods exports to Korea originating here in British Columbia. Now that Canada has finalized its agreement with South Korea, this deal will provide clear benefits for B.C. companies doing business in this key market, especially in the forestry, liquefied natural gas, seafood and agri-food sectors.

“British Columbia depends on trade and investment for economic growth and job creation. With our competitive advantages, we strongly believe that on a level playing field, we will be competitive in South Korea and throughout the Asia Pacific. The benefits for British Columbians and all Canadians will be realized as we continue to diversify our international trade and open new markets for our businesses, workers and investors,” cocnlude ministers.

Press Release, September 25, 2014; Image: gov.bc.ca