Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Image. EDC, 2018
Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) takes hold as 6 of 11 countries now signed. This is a great opprotuntiy for Canadian companies to explore and welcome new markets. "Canada was the fifth country to ratify, filing its notice last weekend after Parliament approved its implementing legislation. Earlier this week, International Trade Diversification Minister Jim Carr said it was important for Canada to be among the first six to ratify in order to have "first-mover advantage," enjoying better access and lower tariffs in key Asian markets the U.S. will not have as a result of the Donald Trump administration's decision to pull out.
"Canada will be the only G7 nation with a free trade agreement with the other six," Carr reminded reporters on his way into question period Wednesday.
It's also another way Canada hopes to diversify its trade, with a longer-term goal of less reliance on U.S. consumers for Canadian goods and services, particularly at a time when the U.S. is a less friendly trading partner than it used to be. (CBC, 2018)
The Canadian Cosmetic Cluster part of the Cosmetic Cluster Interntational Network. This gives us an opportunity to partner with all the other international clusters. This year Japan was honoured at the Cosmetic 360 Show by the Cosmetic Valley for being the first international cluster to join the Cosmetic Valley France and the CCIN. Japan has already ratified into the CPTPP. Agreements like the CPTPP or CETA are perfect moment for Canadian companies to familiarize themselves with new international market like Japan and go global. The Canadian Cluster is here to provide various ways to partner with other countries to find out the best international market place for your company or product.