Soy Canada Looks Forward to Trade Talks with China
Ottawa – September 22, 2016 – Soy Canada today welcomed Prime Minister Trudeau’s announcement of exploratory talks with China regarding free trade. “China is an important market for Canadian soybeans”, said Jim Everson, Executive Director of Soy Canada, “Canada’s trade with China can only benefit further from a more predictable trade environment and closer commercial relationships”.
Prime Minister Trudeau and Chinese Premier Li Keqiang made the joint announcement and set a goal of doubling trade between the two countries by 2025.
Canada’s market for soybeans was valued at over $580 million in 2015, an increase of 22% since 2012. “China is one of the fastest growing markets for soybeans and other agricultural products”, said Everson, “an agreement which provides a more predictable trade environment, free of tariffs and non-tariff barriers will give Canadian suppliers a competitive advantage in this fast growing market”.
Canada’s soybean production is increasing rapidly. We are the seventh largest soybean producer globally and the 5th largest exporter.
Soy Canada is the national association representing the full Canadian soybean value chain. Our members include producer associations representing soybean farmers across Canada, seed development companies, soybean exporters and processors. Canada has a reputation internationally as a reliable supplier of high-quality soybeans for food and animal protein uses. Soy Canada facilitates industry cooperation and represents the industry on domestic and international issues affecting the growth and development of the sector.
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