The Comprehensive Economic Trade Agreement (CETA) aims to reinforce the relationship between Canada and the European Union and to encourage a continual positive collaboration in respect to trade and investment. This agreement will have a tremendous impact on a range of sectors and will affect all European businesses in Canada, and of course Canadian businesses in Europe.
CETA has been negotiated and re-negotiated for some time now, and a CETA implementation date is finally set and ready to go! September 21st marks an important day for the EU-Canada economic cooperation.
What are the benefits we can look forward to? CETA is set to eliminate 98% of tariffs, leading to an increased exchange of goods and services, greater market access, creation of jobs as well as labor mobility and free movement of professionals. As of September 21st, 2017, all EU companies will be eligible to bid on government contracts at both federal and provincial level in Canada and vice versa. These are just a few of the benefits and opportunities brought by CETA, a closer look at this agreement will enhance this list a great deal.
CETA is, what many call, the most progressive trade agreement ever signed and it represents a reinforcement of a great relationship between Canada and EU. The advantages and benefits created as a result of this implementation enable endless possibilities towards a fruitful and sustainable collaboration.
The European Commission has developed extensive informational resources on CETA for EU businesses, read more on the dedicated section of their website here.