Supporting Canada’s Auto Industry
By Parm Gill
MP from Brampton-Springdale
Opening new markets for Canadian goods is essential to the growth and prosperity of Canada’s economy. That’s why our Conservative Government is continuing to pursue the most ambitious trade agenda in Canadian history.
Brampton has a thriving automotive sector that is a cornerstone of our city’s local economy. I am pleased to announce that our Government has recently concluded negotiations for a free trade agreement with South Korea, the world’s 11th largest economy with an annual GDP of $1.2 trillion and home to 50 million consumers. This agreement will provide Canadian producers with preferential access to the Korean economy, and will drive economic growth and help create jobs across all sectors of the economy—including Canada’s auto industry.
Our Conservative Government has a strong record of supporting well-paying jobs in automotive manufacturing. During the onset of the global recession these jobs were threatened, and our Government provided General Motors and Chrysler support to help stop the breakdown of Canada’s automakers, parts suppliers, and research and development centres.
Since being elected, I have supported Brampton’s automotive sector by helping bring in the Automotive Innovation Fund to support research and development projects, and provide long-term investments in the automotive sector.
Our Government is continuing our support of Canadian manufacturers through the Canada-Korea Free Trade Agreement. By signing this agreement, our Government is helping to restore a level playing field in South Korea’s rapidly growing imported car market.
The Canada-Korea Free Trade Agreement will give Canadian automotive producers immediate duty-free access to the South Korea market and allow Canadian manufacturers to export an unlimited number of cars to South Korea, a country of 50 million consumers. This agreement is also Canada’s first with an Asian country, and will provide a gateway to the wider Asia-Pacific market.
At the same time, Canada will have safeguards against South Korean import surges, and permanent specialized dispute settlement procedures that are faster than what the U.S. received in their free trade agreement.
Canada’s free trade agreement with South Korea will bolster Canada’s automotive sector. That’s why this agreement is supported by Honda, Toyota, the Global Automakers of Canada, and the Canadian Association of Manufacturers and Exporters.
As a result of the Canada-Korea Free Trade Agreement, we will increase our auto exports to South Korea, help create jobs, and grow the economy.
Canadians can rely on our Conservative Government to continue expanding Canada’s reach into new markets to create jobs and economic growth.