04 March 2016 Canada-European Union Comprehensive Economic and Trade Agreement one step closer to completion Canada is one step closer to ratifying its free trade agreement with European Union. Once implemented, the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) deal is expected to: (i) provide Canadians with easier access to 28 countries and 500 million consumers in the EU; (ii) remove almost 98% of EU tariffs on a wide range of Canadian products (over 98% of Canadian tariffs) immediately with elimination of 99% of tariffs ultimately on two-way trade; and (iii) add $12b to Canada's GDP. Negotiations between Canada and the 28-member EU began in 2009. An agreement in principle was reached on the comprehensive deal in October 2013. Document ID: 2016-0444 |
