In House Magazine quotes Toronto lawyer Clifford Sosnow in an article about the risks and opportunities associated with the Trans-Pacific Partnership and the Comprehensive Economic and Trade Agreement.
Clifford Sosnow, a partner in the Ottawa office of Fasken Martineau DuMoulin LLP, says exporters need to be aware of exactly what’s in the long and complicated agreements, in order to take advantage of new procurement rules, and general counsel need to be aware of the ways that Canadian laws will have to change to accommodate the deals.
“Identify where your markets are, identify where you think your sources of supply might be, and then understand what the rules are to help you extract an advantage in terms of the dollar value. It’s as simple as that,” he says. “What we tell all in-house lawyers is to understand the ratification process and understand the changes in the rules that will come about as a result of Canada bringing the TPP into force. It will have a significant impact on your companies, and if you don’t comply with the rules you will face the penalties associated with them. Understand where you can intervene, understand, if there is no clarity, how you can go about seeking that clarity.”