The ag industry is praising the tabling of a trade agreement that will increase Canada's access to the Asia-Pacific.

Foothills MP and Associate Ag Critic, John Barlow, said the Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP) is an incredible opportunity for agriculture.

The 11 member countries of the trade agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

"We need these types of transformational agreement that give us access to hundreds of millions of new customers," Barlow said. "But it also gives us leverage with NAFTA and with China. We need to show that we have other markets, new markets, growing markets that we can access, and we don't necessarily always have to rely on the United States."

The treaty was tabled in Parliament last week, and Barlow said, after the treaty is tabled, they have 21 days to review it.

He said, after the 21 days, the actual legislation can be tabled.

"We want them to table to legislation before the end of this summer session (June 22), and that would ensure that we have the summer to look it over. Hopefully, that would mean it would come back quickly in the fall for debate in the House, and we would be able to get this passed through the House as quickly as possible."

Barlow said they hope to ratify the agreement early in the fall.

He added, once six of the 11 member countries ratify the agreement, the trade deal will be in effect for those initial countries, who will see a reduction in tariffs.

"So if we haven't signed on and ratified it within our own parliament, we wouldn't be able to access those markets, giving those other countries a real head start."

Mexico already ratified the deal in April, Australia tabled the treaty in its Parliament and vowed to ratify soon, and the deal has successfully made it through Japan’s Lower House with a clear plan to vote on it before the end of June.

Malaysia and Chile are expected to implement the deal quickly, and New Zealand, Singapore, Peru, Vietnam, and Brunei are working towards ratifying the agreement in the fall as well.

Barlow said they're optimistic Canada will be one of the first six countries to ratify the CPTPP.

According to research commissioned by the Canadian Agri-Food Trade Alliance, the trade agreement could increase Canadian agri-food exports by $1.84 billion.