TORONTO, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Canada’s Japanese-brand auto manufacturers congratulate the Canadian Government, and fully support the proposed Trans-Pacific trade deal reached between Canada and 10 other Pacific Rim countries, according to a statement issued by the Japan Automobile Manufacturers Association of Canada (JAMA Canada).
“Japanese automakers first came to Canada in 1965, and since that time we have built a significant and growing presence here,” said David Worts, Executive Director of JAMA Canada.
“Today we manufacture almost half of all light vehicles produced in this country and export over four times as many vehicles as we import from Japan."
"The CPTPP will open up new opportunities for diversifying and expanding trade. Importantly, this agreement will also restore a level playing field on vehicle tariffs that are needed as a result of Canada's trade agreements reached with South Korea and Europe.”
Ratification of the CPTPP comes on the same day that production and sales figures for Japanese-brand vehicles in Canada for 2017 were released. For the second consecutive year, Japanese light vehicle production topped more than 1,000,000 units. Sales in 2017 represented the fourth consecutive year of record sales for JAMA Canada members.
“As a country that relies on global trade, Canada’s focus must be on building bridges rather than barriers,” said Worts. “This agreement brings significant new opportunities for Canadian companies in all the CPTPP member states."
About JAMA Canada
JAMA Canada is a non-profit trade association representing subsidiaries of Japanese automakers in Canada who manufacture, export, import, sell and service a wide range of high quality, safe and advanced technology vehicles in Canada.
For more information, please visit: http://www.jama.ca
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