Under the agreement, reached on 4 December 2017, China will buy Canadian bone-in beef, fresh chilled beef and a choice array of pork products.
The deal could be worth over CA$225m (US$178m) to the Canadian economy. Trade representatives claim pork sales could rise to CA$100m ($79m), with beef bringing home CA$125m ($99m) over the next five years.
China, along with the US, is one of Canada’s most important markets for meat products and spent around CA$500m on red meat between 2010 and 2016, according to a Conference Board of Canada study.
For every CA$100m ($79m) increase in meat exports, more than 1,100 jobs are created in Canada, according to the report. So, using the report’s forecasting model, one could say the enhanced market access to China could create over 2,200 jobs for Canada’s meat sector.
Canadian Meat Council president Chris White said the deal would create “valuable economic opportunities” for businesses.
Significantly enhanced market access for Canadian beef and pork has come after Canadian Prime Minister Justin Trudeau met Li Keqiang, Premier of the State Council of China, in Beijing this week. Both parties continued talks on a comprehensive free-trade deal and announced bilateral collaboration on agriculture, tourism, climate change and clean growth.
On the meeting, Trudeau said: “While in Beijing, Premier Li and I had discussions on a range of issues, from growing trade and investment, to combating climate change, to the importance of free expression. I look forward to continuing discussions towards a comprehensive trade agreement, which will open up greater opportunities for people on both sides of the Pacific.”