LONDON — Canadian Prime Minister Mark Carney has offered to “broker a bridge”
between the European Union and a fast-growing Indo-Pacific trade bloc this year
to form a new anti-Trump trade pact.
Carney was responding to questions on Tuesday about POLITICO’s reporting that
Ottawa is spearheading conversations between the EU and nations in the
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“We can help broker a bridge between the two,” Carney said during a press
conference as he unveiled Canada’s defense industrial strategy in Montreal.
“It’s the opportunity to have a rules-based trading bloc of one and a half
billion people with complementary economies, and also provides a basis
potentially for further expansion out of that,” the prime minister said.
The CPTPP trade bloc includes Canada, the U.K., Japan, Australia, Mexico, New
Zealand, Vietnam, Singapore, Malaysia and other Pacific nations.
The plans would bring nearly 40 nations on opposite sides of the globe closer
together to reach a deal on so-called rules of origin. These rules determine the
economic nationality of a product.
A deal would allow manufacturers throughout the two blocs to trade goods and
their parts more seamlessly in a low-tariff process known as cumulation.
Carney said Canada is “in a unique position” to push talks forward with the 27
nations of the EU as it’s both a member of CPTPP and has the CETA trade deal
with Brussels.
“We’re not alone in this idea. It’s one of the first conversations I had with
the prime ministers of Australia and New Zealand — like-minded countries who see
the merits in developing this,” Carney said, citing a “series of conversations”
with European Commission President Ursula von der Leyen and European Council
President António Costa and several CPTPP leaders about it.
Carney spoke with Keir Starmer about the talks on Monday, according to a
read-out of their call.
“Stronger ties between the EU and CPTPP members will strengthen supply chains,
unlock new opportunities for Canadian businesses, and reinforce a rules-based
trading system,” wrote Canada’s International Trade Minister Maninder Sidhu on
Monday. “Canada is proud to be at the centre of this momentum.”