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Canola exports to South Korea up 171%

Posted by Flaman Agriculture Jul 21, 2015

The Vancouver Sun is reporting that . . .

Seven months after Canada’s first free-trade agreement with an Asian country went into effect, the deal is already boosting the first group of Canadian goods that had their South Korean import tariffs removed, officials said.

Trade officials said figures showing Canada accumulating a trade deficit with South Korea during the first months of the free-trade deal are misleading, since the figures included coal, where the demand has softened.

In a recent interview, Lee Kie Cheon, consul-general for South Korea in Vancouver, said the deal’s benefits for Canadian businesses and the economy can already be seen in a number of sectors. Among the commodities already recording gains: Canadian exports of canola (up 171 per cent in the first six months of this year), frozen pork (up 40 per cent up to May), and B.C. seafood (up 133 per cent from January to April).

The Canada-South Korea free-trade agreement went into effect on Jan. 1.

Full story at The Vancouver Sun, JUly 20, 2015, Page A11

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