Canadian budget supports investment and trade in canola

The Canola Council of Canada (CCC) announced praise for agricultural support included in a proposed budget on Wednesday, reporting that approximately $15 million was added to funding for the Market Access Secretariat. 

Also included was a continuation of negotiations for the Trans-Pacific Partnership (TPP) that could open up many Asian markets including Japan. They report that exports to Japan amounted to approximately $1.03 billion in 2014.

“The TPP is a tremendous opportunity for canola to have tariff-free access for canola into Japan and other growing Pacific markets,” CCC President Patti Miller said. “In fact, without a TPP agreement our industry will lose out on billions of increased value-added exports."

The TPP is in the negotiation phase with 12 participating countries in North America, Latin America, South America and Asia.

The proposed increase in funding would take place from 2016-18 and aims to support the enhancement of market access while allowing the government and industry to address issues related to this area. It would also stipulate increased resources for trade commissioners working abroad.

“We are also pleased to see additional funds towards market development and manufacturing tax relief that will encourage continued investment in value-added processing,” Miller said.

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