Canada-Korean FTA
Our Conservative Government is committed to expanding trade in the Asia-Pacific region to benefit
hardworking Canadians and businesses across the country. Yesterday, we delivered on that commitment
with the signing of the Free Trade Agreement (FTA) between Canada and the Republic of Korea. The
inclusion of the FTA will give our crucial small and medium sized enterprises preferential access in an
emerging market.
This is an historic initiative that will strengthen our trade and investment ties across the Pacific, resulting
in job creation and enhanced opportunities for Korean and Canadian businesses. The FTA is an
ambitious agreement, covering all sectors of Canada-Korean trade, including goods and services,
investment, government procurement and intellectual property, as well as labour and environmental
cooperation.
The introduction of this bilateral agreement will improve cooperation based on shared values of
democracy, market economy, respect for human rights and the rule of law. The Agreement will create
thousands of jobs boosting Canada’s economy by $1.7 billion and increasing Canadian exports to South
Korea by 32 percent.
The relationship between Canada and Korea has deep roots. In particular, the role our country had
during the Korean War and the sacrifices paid by our Veterans. Our shared desire for sustainable peace
and prosperity continues with the FTA’s additional new Strategic Partnership. It offers strategic direction
for stronger relations in key areas of common interest such as energy and natural resources, science,
technology and innovation, and Arctic research and development.
Our prosperity depends on our ability to capitalize on economic opportunities around the globe. We will
continue to expand our free-trade and investment by remaining focused creating jobs and opportunities
for Canadians in every region of the country. That is why our Government has signed free-trade
agreements with 38 countries since 2006 to support economic growth. Our job creation record
continues to lead among the G7 and we will build on this record to lay the groundwork for Canada’s
long-term economic prosperity.
