Latest news with #CPTPP
NHK
10 hours ago
- Business
- NHK
New Zealand, China leaders affirm importance of economic ties
The leaders of New Zealand and China have affirmed the importance of their country's economic ties. Prime Minister Christopher Luxon met with Chinese President Xi Jinping on Friday in Beijing. This is Luxon's first visit to China since he took office in November 2023. Luxon said he wants to maintain healthy trade ties with China, which is his country's largest trading partner. He cited education and tourism as areas for cooperation. Meanwhile, Xi noted the two nations share a long relationship that has delivered tangible benefits to both sides. But differences remain between the two countries. China has been lobbying New Zealand in its efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership or CPTPP. New Zealand is already a signatory of the pact, but China's move puts it in a difficult position as other members have reportedly raised concerns Beijing cannot meet the agreement's high standards. The meeting also came one day after New Zealand announced it will halt millions of dollars in financial aid to the Cook Islands. The island chain signed a strategic partnership agreement with China without telling New Zealand. The two Pacific nations are obliged to consult each other on defense and security matters.
Calgary Herald
5 days ago
- Business
- Calgary Herald
Carney, Starmer to agree to renew Canada-U.K. trade talks, 'deepen' relationship
The U.K. will seek to restart trade negotiations with Canada, Prime Minister Keir Starmer said, as he strives to strengthen commercial ties around the world to better insulate Britain's economy from the fallout of U.S. President Donald Trump's tariff war. Article content 'The world is changing on trade and the economy,' Starmer told reporters on Saturday on his way to meet Canadian Prime Minister Mark Carney. 'That means we need to do more securing our base at home and turbo-charging what we are doing on the cost of living and at the same time reducing trade barriers with other countries.' Article content Article content Article content Starmer and Carney agreed to establish a new working group to 'deepen our existing trading relationship,' with a deadline to report back in six months, according to a joint statement by the leaders Sunday. The group will be asked to deal with market access questions, and explore ways to cooperate on critical minerals and artificial intelligence. Article content Article content While the two nations reached a trade continuity deal in the wake of the U.K.'s departure from the European Union, talks for a bespoke deal to cover bilateral trade worth an annual £27.5 billion (CAD$37 billion) stalled last year after a dispute over beef, when neither Starmer nor Carney was yet in office. Article content Both nations are also members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, known as CPTPP. Carney agreed his government will aim to introduce legislation this year to ratify the U.K.'s accession into that trade deal — a move that would lower tariffs between the countries. Article content Article content Starmer will use the G-7 summit to argue that in a shifting global economy, the U.K. must retain its proud status as a free and open trading nation by strengthening existing alliances while reducing barriers to trade with other countries, his office said. Article content Article content A trade deal with Canada was not listed as a priority for the U.K. government last year, when Trade Minister Douglas Alexander named agreements with the Gulf Cooperation Council, India, Israel, the Republic of Korea, Switzerland, and Turkey as the areas his department was focusing on. But Trump's return to the White House and his ratcheting up of tariffs against countries around the world has forced UK negotiators to recalibrate — seeking exemptions from the U.S. levies while also casting a wider net in their search for new deals. Article content Article content Canada was the 13th biggest destination for U.K. exports in 2024, taking in £16.9 billion ($31.3 billion) of British goods and services, according to U.K. statistics. It was the 17th biggest source of imports into Britain, with goods and services worth £10.6 billion ($19.6 billion) crossing the Atlantic.
Cision Canada
5 days ago
- Business
- Cision Canada
Readout - Prime Minister Carney meets with Prime Minister of the United Kingdom Sir Keir Starmer Français
OTTAWA, ON, /CNW/ - Today, the Prime Minister, Mark Carney, met with the Prime Minister of the United Kingdom (UK), Sir Keir Starmer. Prime Minister Carney welcomed Prime Minister Starmer to Ottawa. Building on Prime Minister Carney's visit to London earlier this year, the leaders emphasized the deep and historic ties between Canada and the UK. The prime ministers underscored opportunities to strengthen that relationship to the benefit of Canada and the UK, including further collaboration on trade. To that end, they welcomed the creation of a new structured UK-Canada Economic and Trade Working Group to address existing market access barriers, to expand existing arrangements into new areas, such as digital trade, and to explore co-operation in the development of critical minerals and sovereign artificial intelligence (AI) infrastructure. Prime Minister Carney also announced that the new government would seek to introduce legislation this fall to ratify the UK's accession to the CPTPP. The leaders agreed to strengthen co-operation on defence and security, both bilaterally and through the NATO Alliance and Five Eyes partnership. To that end, they discussed their recent respective defence investments and announced the launch of the Joint Canada-UK Common Good Cyber Fund, which will support joint efforts to counter digital transnational repression and support civil society actors at high risk. The Fund will be supported by an initial joint investment of $5.7 million over five years. Prime Minister Carney and Prime Minister Starmer emphasized collaboration on AI systems to support our national security, including a partnership agreement to strengthen existing collaboration on AI safety and security between the Canadian AI Safety Institute and the UK AI Security Institute, as well as new Canadian and UK memoranda of understanding with leading Canadian AI firm Cohere. The prime ministers also announced a joint $14.8 million investment in biomanufacturing to support research and development in both countries, including to better prepare for future health emergencies, and they welcomed increased collaboration on critical minerals and civil nuclear energy. The leaders discussed international conflicts, expressing their support for a just and lasting peace for Ukraine, the need for an immediate ceasefire in Gaza, and de-escalation of tensions between Israel and Iran. Prime Minister Carney and Prime Minister Starmer looked forward to further discussions at the 2025 G7 Leaders' Summit in Kananaskis, Alberta. This document is also available at
Vancouver Sun
5 days ago
- Business
- Vancouver Sun
Carney, Starmer to agree to renew Canada-U.K. trade talks, 'deepen' relationship
The U.K. will seek to restart trade negotiations with Canada, Prime Minister Keir Starmer said, as he strives to strengthen commercial ties around the world to better insulate Britain's economy from the fallout of U.S. President Donald Trump's tariff war. 'The world is changing on trade and the economy,' Starmer told reporters on Saturday on his way to meet Canadian Prime Minister Mark Carney. 'That means we need to do more securing our base at home and turbo-charging what we are doing on the cost of living and at the same time reducing trade barriers with other countries.' Starmer and Carney agreed to establish a new working group to 'deepen our existing trading relationship,' with a deadline to report back in six months, according to a joint statement by the leaders Sunday. The group will be asked to deal with market access questions, and explore ways to cooperate on critical minerals and artificial intelligence. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. While the two nations reached a trade continuity deal in the wake of the U.K.'s departure from the European Union, talks for a bespoke deal to cover bilateral trade worth an annual £27.5 billion (CAD$37 billion) stalled last year after a dispute over beef, when neither Starmer nor Carney was yet in office. Both nations are also members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, known as CPTPP. Carney agreed his government will aim to introduce legislation this year to ratify the U.K.'s accession into that trade deal — a move that would lower tariffs between the countries. Starmer will use the G-7 summit to argue that in a shifting global economy, the U.K. must retain its proud status as a free and open trading nation by strengthening existing alliances while reducing barriers to trade with other countries, his office said. A trade deal with Canada was not listed as a priority for the U.K. government last year, when Trade Minister Douglas Alexander named agreements with the Gulf Cooperation Council, India, Israel, the Republic of Korea, Switzerland, and Turkey as the areas his department was focusing on. But Trump's return to the White House and his ratcheting up of tariffs against countries around the world has forced UK negotiators to recalibrate — seeking exemptions from the U.S. levies while also casting a wider net in their search for new deals. Canada was the 13th biggest destination for U.K. exports in 2024, taking in £16.9 billion ($31.3 billion) of British goods and services, according to U.K. statistics. It was the 17th biggest source of imports into Britain, with goods and services worth £10.6 billion ($19.6 billion) crossing the Atlantic. Since Starmer took office last July, his Labour government has struck a free trade deal with India and also smaller deals with the U.S. and EU on trade and defence. Under the U.S. deal, which has yet to be implemented, the Americans would scrap tariffs on steel and aluminum imports from the U.K. and cut levies on cars to 10% from 27.5%. Starmer said in an interview with Bloomberg News on Friday that he's 'hoping that we will complete it pretty soon,' and that there are no 'hiccups or obstacles.' The British prime minister is trying to strike a delicate balance between his friendly relationship with Trump — the U.K. is the only country so far to agree to a slimmed-down trade agreement amid his threats of tariffs — while also standing up for British allies with whom Trump has been more confrontational. When asked for a response on Trump's continued threats to make Canada a 51st state of the US, Starmer said he was 'absolutely clear' that Canada is 'an independent, sovereign country and a much-valued member of the Commonwealth' — his strongest public defence of the country yet. Canada's head of state is King Charles III, who recently visited Ottawa to help open a new session of Parliament following a national election that returned Carney's Liberal Party to power for another term. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Japan Today
5 days ago
- Business
- Japan Today
Canada, UK agree to establish trade working group, expand defense collaboration
Canada's Prime Minister Mark Carney attends a bilateral meeting with Britain's Prime Minister Keir Starmer, before the start of the G7 summit, at Parliament Hill in Ottawa, Ontario Canada, June 15, 2025. REUTERS/Suzanne Plunkett/Pool By Promit Mukherjee Canada and the United Kingdom agreed on Sunday to set up a trade working group which will submit its recommendations to the prime ministers of the respective countries within the next six months, a joint statement by the two governments said. British Prime Minister Keir Starmer arrived in Canada for bilateral meetings with Prime Minister Mark Carney before the G7 leaders' summit in Alberta from Sunday to Tuesday. Carney has been reaching out to allies to strengthen and diversify the country's trade as its industries, especially steel, aluminum and automobiles, face U.S. tariffs. "We will establish a new structured UK-Canada Economic and Trade Working Group to deepen our existing trading relationship further," the joint statement by the two prime ministers said. The working group would seek to address market access barriers, expand arrangements into areas such as digital trade, and explore cooperation to develop critical minerals and artificial intelligence infrastructure, the statement said. While the UK is an important trading partner for Canada, it represents only a small share of Canada's exports. In 2024, the UK represented 3.6% of exports and 1.2% of imports for the country, according to the Conference Board of Canada. Exports to the UK are mainly dominated by gold and energy products. The joint statement also said that Canada would introduce legislation in the second half of the year to ratify the UK's accession to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a free trade group of 11 countries. The group comprises Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and Canada. The UK gained access to nine countries under the Indo-Pacific trade treaty last year and is still awaiting its ratification by Canada and Mexico. The two countries will also expand defense collaboration including support for Ukraine, the statement said. © Thomson Reuters 2025.
