Canada's pork exports to Japan are to increase by 36.2%
The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is bringing new opportunities for Canadian pork producers as the process is opening doors to a market of 500 million people.
"Canada is a globally competitive producer and exporter of pork and pork products. We have worked hard to develop our reputation as a reliable supplier of safe, wholesome, high-quality pork. The key to building on our success, however, is the ability to access a wide variety of markets", said Canadian Pork Council Chair Rick Bergmann. TPP will set the rules on global trade over the next decade and Canadian pork producers are already eyeing Japan and Vietnam as their main markets in the near future.
In 2017, 252,147 tons of Canadian pork and pork products were exported to Japan, a value of $1.2 billion. For this year, Canadian pork exports to Japan are projected to increase by $639 million or 36.2% under the CPTPP.
"This deal will provide our industry stability in vital markets like Japan and opportunities in emerging markets like Vietnam", added Bergman, quoted by National Hog Farmer magazine.
CPTPP was signed in an official ceremony March 8 in Santiago, Chile by representatives from 11 governments from the North America and Asia-Pacific regions.
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