TORONTO, March 08, 2018 (GLOBE NEWSWIRE) -- The members and directors of the Japan Automobile Manufacturers Association of Canada (JAMA Canada) are commending the Minister of International Trade, the Hon François-Philippe Champagne, and the Government of Canada for being a signatory to the historic Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) multilateral trade initiative signed in Santiago, Chile today.
“For JAMA Canada and our members, CPTPP is simply a matter of fairness which will allow our members to compete on an equal footing with all other importers in the Canadian market,” said David Worts, Executive Director of JAMA Canada. “We are looking forward to the early ratification and implementation of the agreement.”
Canada’s Japanese-brand auto manufacturers built more than 1 million light duty vehicles for the second year in a row, according to figures released last month by JAMA Canada. The total output of 1,009,203 units represents an estimated 46 per cent of total Canadian light vehicle production for 2017.
“The approved CPTPP sends a strong and positive signal to our members, dealers and customers as well as Japanese investors that Canada is not only creating a competitive market in Canada, but also pursuing diversified trade and business opportunities with other countries around the world,” said Worts. “For the Canadian auto industry, CPTPP will provide guaranteed, preferential market access to Japan and other CPTPP members, an improvement over the original TPP.”
According to JAMA Canada, open competition will bring greater choice along with innovations in vehicle safety, lower emissions, higher fuel efficiency, alternative power trains (like electric, fuel cell, hybrid and plug-in hybrid vehicles) and eventually the promise of enhanced mobility and reduced congestion through connected and autonomous vehicle technologies.
About JAMA Canada
JAMA Canada is a non-profit trade association representing subsidiaries of Japanese automakers in Canada, and was established in 1984 to promote greater understanding in trade and economic matters between Canada and Japan. For more information, please visit http://www.jama.ca and http://www.jama.ca/drivingcanada
For more information:
David Worts, Executive Director
Tel: 416-968-0150
Email: dworts@jama.ca