Tuesday, 28 February 2017 09:20

CETA

The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) will create jobs, strengthen economic relations and boost Canada's trade with the world’s second-largest market. CETA is a progressive free trade agreement which covers virtually all sectors and aspects of Canada-EU trade in order to eliminate or reduce barriers. For example, prior to CETA’s entry into force, only 25 percent of EU tariff lines on Canadian goods were duty-free. Upon CETA’s entry into force, the EU will remove tariffs on 98 percent of its tariff lines. Once CETA is fully implemented, the EU will have eliminated tariffs on 99 percent of its tariff lines.

Phase one may be implemented as early as April of this year. Many tariffs will be reduced over a 5 - 7 year period. Full details have not become available for review as of yet, but are expected to be forth-coming soon.

For more information, see the link below. 

http://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/ceta-aecg/index.aspx?lang=eng

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