China deal with canadian beef farmers
Ongoing efforts by the Government of Canada to strengthen trade ties with China, including the Prime Minister Justin Trudeau’s trade mission to that country, have helped secure expanded market access for Canadian pork and beef to China. Now Alberta beef producers are thrilled about the potential of $20 million in annual growth from the new trade deal with China, the agreement will allow chilled and bone-in Canadian beef and pork to be exported to China for the first time.
China has approved the import of frozen bone-in beef in accordance with the 2016 agreement to work towards expanded market access to China for Canada’s beef products. As distribution chains and marketing in China for Canadian chilled and frozen meat products are developed, Canadian meat industry estimates the increased export values could be upwards of 100 mill. USD for pork and 125 mill. USD for beef over the next five years. This expanded access and ongoing exploratory discussions towards a comprehensive trade agreement help the Government of Canada’s twin goals to grow Canada’s agri-food exports to at least 75 bn. USD annually by 2025, and to double bilateral trade with China by 2025.
China is already Alberta’s second-largest trading partner, and its rapidly expanding middle class has a taste for Canadian meat. With around 70 per cent of Canada’s beef produced in Alberta, the deal is a huge boon for the province. Alberta Trade Minister Deron Bilous called the development "absolutely significant". Canada is several years away from any kind of free trade deal with China but, as an interim measure, the latest development is positive, he said in an interview. Free trade agreements take up to a decade to figure out, but should encouraging Ottawa to explore those talks with China — even if the two sides aren’t yet at the table for formal talks.