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Canada-EU Comprehensive Economic and Trade Agreement

The Comprehensive Economic and Trade Agreement (CETA) is the broadest trade negotiation ever undertaken by Canada covering a significant range of issues that include tariffs, non-tariff barriers, services and investments, financial services, government procurement, and much more.

Background

With a population of over 507 million and a global import and export rate of 16.4 percent and 15.4 percent respectively, the European Union (EU) is one of the biggest export markets globally. Combined, EU countries have a GDP of CDN $ 21.1 trillion and a Gross National Product of CDN $ 44,000.

When completely implemented, the CETA was expected to result in C$1.5 billion in new agri-food exports including $600 million in beef, $400 million in pork, $100 million in grains and oilseeds, $100 million in sugar-containing products, and a further $300 million in processed foods, fruits, and vegetables.

 

In its implementation, the agreement is expected to eliminate 94 percent of the existing tariff between Canada and the EU over a span of 7 years and increase two-way trade between the two markets by 23 percent.

 

The CETA was finalized officially in October of 2016 and entered into a provisional application on September 21, 2017. CETA must be ratified by all EU member states before it comes fully into force.

 

Updates

As of December 2022, 17 member states have notified the European Council of the completion of ratification: Austria, Croatia, Czechia, Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Romania, Slovakia, Spain, and Sweden.  Member states that have not ratified CETA include the following: Belgium, Bulgaria, Cyprus, France, Greece, Hungary, Ireland, Italy, Poland, and Slovenia.

As the fifth top-exporting nation globally, Canada can benefit significantly from the implementation of CETA. CAFTA supports the ratification and implementation of CETA.  Through CETA, Canada’s farmers and food processors stand to benefit from increased market access to one of the world’s few billion-dollar export markets.

After 5 years of provisional implementation, significant non-tariff barriers remain in place that severely restrict or threaten to jeopardize the market access CETA promised the agri-food and agricultural sector.

See CAFTA’s recent statements on CETA

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