TORONTO, June 19, 2012 /CNW/ - The Canadian Vehicle Manufacturers' Association (CVMA) welcomes the news today that Canada will join the Trans-Pacific Partnership. The CVMA and its member companies commend and applaud the Prime Minister and the Minister of International Trade for their success in negotiating Canada's entry into this important trade initiative for the Pacific Rim.
Since the groundbreaking Canada-US Auto Pact, Canada's auto industry has developed as part of a highly integrated North American sector. This integration was further supported by the Canada-United States Free Trade Agreement, and by the North American Free Trade Agreement (NAFTA). Entry into the TPP will ensure the North American automotive sector will continue to benefit from high levels of integration.
Canada's automotive sector remains Canada's largest manufactured export. The Canadian auto sector applauds Canada's success in joining its NAFTA trading partners in this important new trade opportunity.
About the Canadian Vehicle Manufacturers Association
The Canadian Vehicle Manufacturers' Association is the industry association that has represented Canada's leading manufacturers of light and heavy duty motor vehicles for more than 85 years. Its membership includes Chrysler Canada Inc.; Ford Motor Company of Canada, Limited; General Motors of Canada Limited; and Navistar Canada, Inc. Collectively its members account for 70% of vehicles produced in Canada, operate 5 vehicle assembly plants as well as engine and components plants, and have over 1,300 dealerships. 125,000 jobs are directly tied to vehicle assembly in Canada. Direct and indirect jobs associated with vehicle manufacturing are estimated at over 500,000 across Canada. Please visit www.cvma.ca.