While the launch of the CPTP will certainly allow its signatory states to have better access to the markets of different member countries, bilateral trade agreements continue to offer preferential access to partner countries. Since February 26, 2011, the Government of Canada has launched an extensive consultation process with The Canadian public, provinces and territories, businesses and non-governmental organizations to obtain a contribution to a potential free trade initiative with Japan (see Canada Gazette Consultations: On Possible Negotiations for a Comprehensive Economic Partnership with Japan). The Canadian government welcomes the contribution of all Canadians who have contributed to the consultation process to date. Their views will be taken into account as Canada-Japan economic relations develop and Canada`s broader trade agenda is developed. We welcome and encourage stakeholder input throughout the negotiation process. Please contact us for any questions or comments via the contact information below. Bilateral investment between Canada and Japan has continued since Japan`s economic ups and fores. According to NOP 2016 and the National Opinion Poll 2015: Canadian Views on Asian Investment, more than three-quarters of Canadians support Japan`s investments and associate them with new technologies, economic growth and job creation. Trade and investment with Japan, Canada`s Pacific partner, is essential to improving employment and economic opportunities for people in both countries. In 2017, Japanese direct investment in Canada amounted to $29.6 billion and came from some 450 Japanese subsidiaries and subsidiaries. Canada`s investment in Japan totalled $4.7 billion this year and came from more than 100 Japanese-based Canadian companies in the automotive, information and communications technology, financial services and forestry sectors. On March 25, 2012, Prime Minister Harper and Prime Minister Noda announced in Tokyo the opening of high-level negotiations on an Economic Partnership Agreement (EPA) or free trade negotiations. Nevertheless, Canada-Japan trade relations still have a lot of untapped potential.
The Trans-Pacific Partnership (TPP) would have been the best opportunity to advance economic relations, but it is clearly possible that the TPP will not be the last mile in the face of US President-elect Donald Trump`s opposition to the agreement. The closest option might be for Canada and Japan to seize economic opportunities in renegotiations of a Canada-Japan Economic Partnership Agreement (CJEPA), which bears similarities to a free trade agreement (FTA). This may be the best thing to do, because according to the National Opinion Poll 2015: Canadian Views on the Trans-Pacific Partnership, the Canadian public is more open to a free trade agreement with Japan (70%) TPP (41%). Since the trade agreement came into force in 2011, EU exports to South Korea have increased by 55%, while bilateral merchandise trade has reached a record level of EUR 90 billion. The United States and Australia ratified their own trade agreements in 2012 and 2014 respectively. Canadian public opinion now recognizes the importance of young Canadians studying abroad in central countries such as Japan. The 2016 NOP results show that nearly 70 per cent of Canadians believe their province and Asia should increase the number of student exchanges and university agreements. APF Canada has already tried to do so by cooperating with the Japanese government to provide its Kakehashi project, which selects a number of Canadian and Japanese students for cultural and academic exchanges aimed at building mutual trust and understanding between the citizens of Canada and Japan.
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