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Canada to join Trans-Pacific trade talks
Reuters | June 19, 2012 | 04:44 PM EDT
LOS CABOS, Mexico (Reuters) - Canada will join 10 other nations in talks aimed at creating an Asia Pacific free trade agreement, Prime Minister Stephen Harper announced on Tuesday, part of a bid to reduce reliance on the U.S. market in favor of fast-growing emerging economies.
The Trans-Pacific Partnership talks are aimed at creating a free-trade zone with a combined population of 658 million people and a gross domestic product of more than C$20 trillion ($19.65 trillion).
"This is a further example of our determination to diversify our exports and to create jobs, growth and long-term prosperity for Canadian families," Harper told reporters in the Mexican beach resort of Los Cabos on the sidelines of a G20 summit.
The deal will likely increase pressure on Canada to scrap a farm support program that other countries see as protectionist. Canada limits domestic production of dairy, poultry and eggs to match demand, and high tariffs are imposed on imports to protect farmers, a scheme considered unfair by competitors but one that has been politically sacrosanct.
Many of Canada's farmers consider supply management essential to their survival since it allows them to compete against much larger U.S. competitors. Defending supply management has always been Canadian government policy.
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