With both the Canadian and Japanese Governments pursuing an Economic Partnership Agreement, the Japan Automobile Manufacturers Association of Canada says it is encouraged by their efforts. A third round of negotiations is scheduled to take place during the week of July 8 in Tokyo, Japan.
Commenting on the upcoming discussions, Jerry Chenkin, vice-president of Honda Canada Inc. and chairman of JAMA Canada said that “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.”
Currently, one third of Japanese vehicles sold in Canada are imported from Japan and the association believes that these vehicles would benefit significantly from the elimination of Canada’s 6.1 per cent 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,” Chenkin said.
JAMA Canada also said that additional advantages of the trade deal would increase both business and trade opportunities between Canada and Japan, as well as witnessing GDP gains of $9 billion U.S. for the former and $4.9 billion for the latter. Additionally, the association said the EPA would go a long way in addressing non-tariff trade barriers, technical standards, intellectual property rights and other issues, as well as helping create well-paid skilled work for Canadians and promoting cross-border trade.
