\u201cIt’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,\u201d the prime minister said.<\/p>\n
The CPTPP trade bloc includes Canada, the U.K., Japan, Australia, Mexico, New Zealand, Vietnam, Singapore, Malaysia and other Pacific nations.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Carney said Canada is \u201cin a unique position\u201d to push talks forward with the 27 nations of the EU as it\u2019s both a member of CPTPP and has the CETA trade deal with Brussels.<\/p>\n
\u201cWe’re not alone in this idea. It’s one of the first conversations I had with the prime ministers of Australia and New Zealand \u2014 like-minded countries who see the merits in developing this,\u201d Carney said, citing a \u201cseries of conversations\u201d with European Commission President Ursula von der Leyen and European Council President Ant\u00f3nio Costa and several CPTPP leaders about it.<\/p>\n
Carney spoke with Keir Starmer about the talks on Monday, according to a read-out<\/a> of their call.<\/p>\n