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Trans-Pacific Partnership Agreement

Posted By Stephen Cryne, October-05-15

We are pleased to see a Trans Pacific Partnership has been reached today following exhaustive rounds of negotiations. We congratulate Canada’s negotiating team in reaching this landmark agreement. The   TPP will give Canadian companies preferential access to an economic zone covering 800 million people and 40% of the global economy.

 

With the growth in international trade, having boots on the ground in international markets is vitally important to success.  The TPP includes important provisions for the temporary entry of business travelers, making it much easier for Canadian companies to get their employees into foreign countries.

 

Highlights include:

 

• Commitments from Australia, Brunei, Malaysia and New Zealand for business visitors providing after-sales services, as well as new commitments from Chile and Mexico to extend coverage for business visitors providing after-lease services, which helps Canadian companies offer installation and maintenance services for products sold or leased in these markets.


•Improves commitments for intra-company transferees from Australia, Chile, Japan, Malaysia, New Zealand, and Vietnam, which will further support Canadian investors in these markets.


•Provides new commitments from Brunei, Japan, Singapore and Vietnam for investors, which will help Canadian investors to establish a commercial presence in these markets.


•Provides new commitments for professionals and technicians covering a wider range of occupations from most TPP countries.These include:

 

·         improved access to Australia and Chile through the removal of existing economic needs tests; and

·         new commitments from Japan, Malaysia, Mexico and Peru to not impose economic needs tests or numerical limitations on professionals.


•Provides new commitments from Australia, Chile, Japan, Malaysia and Mexico to extend temporary entry privileges, as well as the right to work, for the spouses of certain covered Canadian business persons. It also provides new entry commitments from Peru for the spouses of certain covered Canadian business persons.


·         These commitments recognize the reliance of many Canadian households on two incomes and facilitate the relocation of business persons to these markets.


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