Industry applauds Trans-Pacific Partnership

Representatives of the Canadian mining industry have come out in support of the Trans-Pacific Partnership (TPP), after the trade deal’s dozen partnering national governments, including Canada’s, reached an agreement on Oct. 4.

The deal could increase market access for Canadian exports, and be a boon to the Canadian resource sector,  Prospectors & Developers Association of Canada (PDAC) president Rod Thomas said.

“Access to international markets is vital for Canada’s mineral exploration and mining industry,” Thomas said in a statement. “Canada’s exports of metals and minerals to TPP countries topped $158.6 billion per year from 2012 to 2014. Such a partnership is not only important for our industry, but also for Canada’s entire economy to have secure trading relationships with these countries.”

The PDAC supports aspects of the deal that will promote two-way investment, singling out investor protections that provide greater clarity, certainty and transparency.

Echoing the PDAC, the Mining Association of Canada released a similar message in support of the TPP.

“Canada’s mining industry has been a strong advocate for liberalized trade and investment flows for many years,” MAC president and CEO Pierre Gratton said.

“NAFTA, free-trade agreements with Chile, Peru, Colombia and other countries in Latin America, Africa, and Asia have all helped to increase Canadian exports and investment, supporting jobs for Canadians here and abroad.”

“TPP, representing such a massive trade block, including critical emerging markets, is a trading partnership Canada must not risk being left out of,” Gratton said.

MAC said Canadian producers would gain from the TPP’s reduced tariffs, which hit Canadian natural resources when they are shipped overseas.

“The rest of the world looks to Canada as a leader when it comes to mining,” Gratton said. “Part of maintaining that global leadership is ensuring that the Canadian mining and supply sectors have access to modern and comprehensive trade and investment vehicles to meet the world where it does business.”