TPP an Unequivocal Win for Canadian Banking, Insurance

Canada’s financial services sector has a lot to gain from the landmark Trans-Pacific Partnership (TPP)
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TPP an Unequivocal Win for Canadian Banking, Insurance
A view of Toronto’s financial district, home of the big Canadian banks, which should be able to expand internationally with greater ease due to the TPP. The Canadian Press/Nathan Denette
Rahul Vaidyanath
Updated:

Canada’s financial services sector has a lot to gain from the landmark Trans-Pacific Partnership (TPP) deal whose negotiations concluded on Oct. 5.

There is no doubt or controversy about it, unlike with the agriculture or auto industries. Reducing trade barriers, gaining access to new markets, and establishing fair and transparent rules is a big boost to the banking and insurance industries.

Canadian financial institutions have gained in strength relative to their international peers since the financial crisis and are well positioned to grow even more internationally with additional help from the TPP. Last year, the World Economic Forum ranked Canada’s banking system as the soundest in the world for the seventh straight year.

We certainly seem to have gotten a good deal.
— Leah Littlepage, Canadian Life and Health Insurance Association
Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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