Executive Briefings

EU-Canada Free Trade Agreement Expected to Boost Already-Huge Trade Volume Between the Partners

Trade between the European Union and Canada is already very strong – and growth is expected to continue as a result of an historic new trade agreement now being finalized in Ottawa, according to the British International Freight Association. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is said to be Canada’s most ambitious trade initiative, broader in scope and deeper in ambition than the North American Free Trade Agreement.

EU-Canada Free Trade Agreement Expected to Boost Already-Huge Trade Volume Between the Partners

Once applied, CETA will offer EU firms more and better business opportunities in Canada and support jobs in Europe and it will tackle a whole range of issues to make business with Canada easier. CETA will remove customs duties, end limitations in access to public contracts, open up the services' market, offer predictable conditions for investors and help prevent illegal copying of EU innovations and traditional products. The agreement contains also all the guarantees to make sure that the economic gains do not come on expense of democracy, environment or consumers' health and safety.

According to the EU Commission, the EU is Canada’s second-most important trading partner, representing 9.8 percent of Canada’s external trade, and the reduction of trade barriers on both sides of the Atlantic should help to open up new markets to exporters on both continents.

Source: BIFA

Once applied, CETA will offer EU firms more and better business opportunities in Canada and support jobs in Europe and it will tackle a whole range of issues to make business with Canada easier. CETA will remove customs duties, end limitations in access to public contracts, open up the services' market, offer predictable conditions for investors and help prevent illegal copying of EU innovations and traditional products. The agreement contains also all the guarantees to make sure that the economic gains do not come on expense of democracy, environment or consumers' health and safety.

According to the EU Commission, the EU is Canada’s second-most important trading partner, representing 9.8 percent of Canada’s external trade, and the reduction of trade barriers on both sides of the Atlantic should help to open up new markets to exporters on both continents.

Source: BIFA

EU-Canada Free Trade Agreement Expected to Boost Already-Huge Trade Volume Between the Partners