Study raises concerns about Canada-Korea free trade

20/09/2006

An economic study of the federal government's proposed Canada-Korea Free Trade Agreement raises major concerns over the impact of the deal, including the potential loss of more than 33,000 Canadian manufacturing jobs.

President of the Canadian Auto Workers Union (CAW) Buzz Hargrove released the study after meeting with international trade minister David Emerson to highlight the alleged negative impact of Canada-Korea free trade.

The study, entitled ‘Employment Implications of Trade Liberalisation with East Asia’, was prepared by CAW economist Jim Stanford and Daniel Poon, from Carleton University's School of Public Administration.

It looks at the employment impacts of Canada's existing bilateral trade relationships with East Asia, including Japan, China and Korea and the likely employment effects of the proposed Canada-Korea Free Trade Agreement.

"In total, our current trade with East Asia results in the net loss of over 180,000 Canadian jobs," the study indicates. "Most of this job loss is due to our trade with China, but significant jobs losses also result from our current trade with Korea and Japan."

It also warns that job losses in high-technology sectors such as computers and machinery will occur in addition to the anticipated losses in the clothing and footwear sectors.