EU Trade Deal Will Bring Prosperity to Prince Edward Island

Gerald Keddy, Parliamentary Secretary to the Minister of International Trade, for the Atlantic Canada Opportunities Agency and for the Atlantic Gateway, has concluded a two-day tour of Prince Edward Island.

The tour included a visit to the Vector Aerospace Engines Services’ Atlantic facility, and they held a round table at Slemon Park with representatives of Atlantic Canada’s aerospace industry to update them on the current trade negotiations with the European Union.

This was then followed by an agricultural round table at the Farm Centre Association in Charlottetown, where the discussion focused on the benefits of a Canada-EU trade agreement for P.E.I. agricultural workers.

Gerald Keddy was joined on the tour by the Honourable Gail Shea, Minister of National Revenue. “Our government is focused on jobs, growth and long-term prosperity,” said Minister Shea. “A trade agreement with the European Union will be a big win for P.E.I.’s workers and businesses. More than 3,700 hard-working Islanders and their families depend on the agriculture sector for their livelihood."

In Morell yesterday, Minister Shea and Parliamentary Secretary Keddy visited the Mussel King processing plant to highlight the benefits of an ambitious Canada-EU trade agreement for the P.E.I. fish and seafood industry.

The EU is the world’s largest fish and seafood market, with a global import market averaging $23 billion annually during 2009-2011. Mr Keddy outlined the significance of this E.U trade agreement to the industry; “The fish and seafood sector is an important pillar of P.E.I.’s economy”, Keddy said.

In less than six years Canada have already concluded free trade agreements with nine countries. Trade and investment ties are also being pursued in some of the world’s fastest growing markets, such as India and China.

The European Union is Canada’s second-largest trading partner after the United States. A Canada-EU joint economic study released in October 2008 shows that a trade agreement would boost Canada’s economy by $12 billion annually and increase two-way trade by 20 percent. This is the equivalent of creating 80,000 new jobs in Canada.

The aim is to conclude the trade agreement this year.