The end of 2018 saw Canada enter the Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CPTPP) with six nations across the Asia-Pacific region. The agreement is expected to inject
millions into the economies of both Australia and Canada, along with the other nations entered into the
partnership. Austrade, the Australian Government’s trade, investment and education promotion body,
highlights some quick statistics on the free trade agreement.

Fact #1

Australia maintains 11 free trade agreements with 18 countries including the CPTPP and the ASEAN
agreements. Australia’s FTAs are held with Canada, New Zealand, Singapore, the United States,
Thailand, Chile, Malaysia, South Korea, Japan, Indonesia, the Philippines, Brunei, Vietnam, Laos,
Myanmar, Cambodia, Mexico and Peru.

Fact #2

Australia exports $87.9b to the CPTPP countries. Of that amount, Australia exports approximately $2.7b
to Canada. Australian exports to Japan amount to $44.6b.

Fact #3

Goods exports that result from the CPTPP include sheep, wine, sugar, beef, horticulture, dairy, grains
and cereals, iron and steel, iron ore, copper, nickel, seafood, rice and processed foods. Additionally,
services exported as a result of the agreement will include telecommunications, mining, energy, finance,
e-commerce, education and professional services.

Fact #4

In 2017-2018, 25.3 percent (A$79.6b) of Australia’s goods exports and 20.9 percent (A$18.4b) of
Australia’s services exports went to CPTPP nations. According to 2018 ABS trade data, goods and
services exports to CPTPP countries equated to around 22.7 percent of Australia’s total goods and
services exports.

 

The Canadian Australian Chamber of Commerce (CACC) is a non-profit, volunteer based organisation that aims to bring businesses together to facilitate a strong environment for economic trade and investment between Canada and Australia. 
 
Written by Anthony Naimo
 
CACC Communications Committee 
Lea Pfeiffer

Author Lea Pfeiffer

More posts by Lea Pfeiffer
© Canadian Australian Chamber of Commerce 2018 | Legal & Privacy Discalimer | Sitemap