Canada-EU business leaders: CETA implementation beneficial for all
Businesses across Canada and the European Union are welcoming today’s provisional implementation of the Canada-EU Comprehensive Economic and Trade Agreement (CETA).
A progressive free trade agreement that covers nearly all sectors and aspects of Canada-EU trade, CETA will benefit consumers, businesses and citizens by eliminating tariffs and non-tariff barriers, encouraging investment, opening procurement markets, recognising professional qualifications, and promoting sustainable development.
“This agreement is truly a game-changer,” said The Honourable John Manley, President and Chief Executive Officer of the Business Council of Canada. “Beginning today, companies of all sizes across Canada can take advantage of preferential access to the world’s second-largest market. For Canadians, this means enhanced opportunities, new jobs and increased business investment.”
When CETA is fully phased in, Canadians will save nearly $1 billion per year in tariffs on imported European goods, while Europeans will save €590 million per year. The agreement will encourage competition, give consumers expanded access to high-quality products, and allow companies to operate more efficiently.
“CETA is a land-mark deal that opens unprecedented opportunities for European companies”, said Markus J. Beyrer, Director General of BusinessEurope. “New and transparent rules on public procurement, workable rules of origin and the protection of intellectual property will make a real difference for businesses wishing to establish or expand their presence in Canada.”
CETA sets the standard for bilateral trade agreements, promoting trade and investment as well as ensuring sustainable development. It is the most progressive trade agreement ever negotiated by both parties, confirming the sovereign right of governments to regulate in the public interest and reinforcing strong environmental and labour protections.
Joint press release by: