Canadian producers of fresh and frozen lobster could see a big bump in business if the Trans-Pacific Partnership trade agreement is signed in Atlanta this week.
Trade ministers are expected to meet for what could be the final round of negotiations linked to the 12-country trade deal. The Pacific Rim nations involved in the talks, including Canada, account for 40 per cent of global gross domestic product.
According to a source close to the negotiations, fresh and frozen lobster will gain duty-free access to all TPP countries under the current version of the agreement. Asian markets represent a major source of business for lobster producers.
Prepared salmon products and herring roe will also enjoy the same duty-free status. Currently, Japan applies a 10.5 per cent tariff on prepared salmon products coming from Canada.
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