On February 3, 2016, Canada and the United States, along with
ten other Pacific Rim countries signed the Trans-Pacific
Partnership (TPP) trade agreement, referred to as "the
largest, most ambitious free trade initiative in history." The
signing kicks off a two-year ratification period, during which the
United States, Japan and at least four of the remaining ten
countries must approve the final legal text in order for the deal
to take effect.
In Canada, the TPP must be tabled in Parliament for consideration
and debate before it is ratified and implemented into Canadian law.
This process has started with the announcement last week of the
initiation of a full Parliamentary Committee study into the
TPP.
As part of its study, the Committee is inviting Canadian
organizations to express their views on the TPP agreement via
written submissions. Those who wish to provide a written submission
must do so before 23:59 EDT on April 30th, 2016.
Canadians may also request to testify before the Committee in
Ottawa, either as an individual or as a representative of an
organization. In addition to Ottawa hearings, the Committee expects
to hold hearings across Canada over the coming months. Information
will be provided about dates and locations of these hearings at a
later date.
The text of the TPP and Canada's side agreements can be found
at the Department of Foreign Affairs, Trade and
Development's website.
Dickinson Wright's International Trade Group is carefully reviewing the text to provide you with our analysis and insights on the TPP and what it means for those companies seeking access to Canadian markets and investment opportunities and for Canadian companies doing business abroad.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.