​​​​​​​​​Winnipeg, Manitoba  --  Yesterday’s tabling of the final text of Canada-Korea Free Trade Agreement (CKFTA) is an important milestone for canola farmers.  “The tabling of the text means Canada is one step closer to finalizing the CKFTA,” says Rick White, CEO of Canadian Canola Growers Association, which when implemented will improve market access for canola products into the growing South Korean market.

In recent years, canola exports from Canada to South Korea have ranged between $60-90 million annually. Significant growth opportunities are anticipated for both oil and seed exports when the CKFTA is enacted.

Getting the CKFTA implemented quickly is especially important to Canada, with South Korea having already concluded Free Trade Agreements with the EU, Chile, Australia and the U.S. “Currently, Canadian canola is at a competitive disadvantage versus other oilseeds,” says White. 

When implemented, the CKFTA will eliminate a 10% tariff that Korea currently applies to canola seed and tariffs on crude and refined canola oil. “That puts Canadian canola on a level footing with competing oilseed products from countries such as the U.S. and Australia,” says White.

“South Korea is an important export market for canola and we applaud the Government of Canada for propelling this agreement forward,” says White. “Looking ahead, we encourage all Parliamentarians to support the agreement so that it can be implemented by the target date of January 2015.”​

CCGA represents more than 43,000 canola farmers on national and international issues, policies and programs that impact farm profitability. 

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Contact:
Kelly Green 
Director, Communications
Phone: 204.789.8821 
E-mail: kellyg@ccga.ca​​