CALGARY, March 26, 2012 - Canadian Pacific welcomes the joint announcement by Prime Minister Stephen Harper and Japanese Prime Minister Yoshihiko Noda, that Canada and Japan will launch negotiations for a free trade agreement between the two countries.
Jane O'Hagan, CP's Executive Vice-President and Chief Marketing Officer made the following comment on the negotiations.
"Canadian Pacific is focused on driving volume growth, expanding network reach and revenue-generating capacity, and controlling costs. CP welcomes Prime Minister Harper's promotion of free trade in Asia. Free Trade enables long term growth, promotes investment and creates greater supply chain certainty - all of which supports our growth in the Asia-Pacific Gateway."
Japan is the world's third-largest national economy and was Canada's largest source of job-creating investment from Asia. It is also Canada's fourth-largest merchandise export market, with exports totaling $10.7 billion in 2011 - an increase of 16.1 percent over 2010. Total merchandise trade in 2011 was valued at $23.7 billion. CP and its supply chain partners enable these trade flows.
About Canadian Pacific:
Canadian Pacific (CP:TSX)(NYSE:CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit cpr.ca and see how Canadian Pacific is Driving the Digital Railway.
