Brochure: The Comprehensive Economic and Trade Agreement is a big deal for Canadian companies
What is CETA?
A progressive trade agreement for a strong middle class.
Canada and the European Union (EU) have common views, common values, similar perspectives on the role of government in society, and the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) has the potential to bring us even closer together. CETA will bring real benefits to Canadians. Free and open trade permits the exchange of goods, services, technologies and ideas, which are key elements of a prosperous open society.
CETA will create jobs, strengthen economic relations and boost Canada’s trade with the world’s second-largest market. CETA sets new standards for trade in goods and services, non-tariff barriers, investment, government procurement, as well as in areas like labour and the environment. It is a progressive free trade agreement that covers virtually all sectors and aspects of Canada-EU trade in order to eliminate or reduce barriers.
CETA marks the beginning of a new era in trade agreements in which transparency and openness are at the centre of what we do, and labour rights and environmental protection are key components. Free trade agreements like CETA also promote and protect cultural diversity and strengthen the middle class while helping to ensure that everyone can participate and benefit.
What does CETA mean for Canadian companies?
Key sectors for Canadian exporters
- Agriculture and agri-food
- Clean tech
- Fish and seafood
- Forestry and wood
- Information and communications technologies
- Medical devices
- Metals, mining and minerals
- Oil and gas
- CETA will encourage more investment in Canada. It is expected that more EU companies will invest in Canada to take advantage of Canada’s preferential access to the United States and other markets, while non-EU companies will invest in Canada to take advantage of our preferential access to both the EU and the United States.
- Investment provisions in CETA will provide Canadian investors and their investments with greater certainty, stability, transparency and protection to guarantee a more favourable and secure access to the EU market.
“Manitobah Mukluks is an Indigenous-owned company with the vision to build a global footwear brand that makes a significant impact in Indigenous communities. Free trade agreements like CETA ensure that we can compete in international markets, like we do in our own backyard, and increase our social impact as a result.”
Eliminates most tariffs: On the day that CETA enters into force, 98 percent of EU tariff lines will be duty-free for Canadian goods, and an additional one percent will be eliminated over a seven-year period. Tariff elimination will provide enhanced export opportunities into the EU market for Canadian producers, processors, and manufacturers, as well as for agricultural and agri-food products, fish and seafood, forestry goods, and the full range of industrial goods.
Cuts red tape: Wherever possible, customs procedures will be simple, effective, clear and predictable so as to reduce processing times at the border and make the movement of goods cheaper, faster and more efficient.
Reduces barriers to trade: CETA will allow Canadian producers to have certain products tested and certified, for EU markets, right here in Canada. This will reduce testing and certification costs and delays for manufacturers.
Provides access to public contracts at all levels: CETA expands and secures opportunities for Canadian firms to supply goods and services to all levels of the EU governments including the EU member state governments, regional and local governments and an array of entities operating in the utilities sectors.
Improves access for trade in services: CETA gives Canadian service providers the best market access the EU has ever granted.
Improves labour mobility: CETA will make it easier for certain skilled professionals and businesspeople to work temporarily in the EU and it establishes a streamlined process for the recognition of professional qualifications.
Promotes and protects investment: CETA will give investors greater certainty, stability and protection for their investments.
Thinking about exporting to the EU?
Across Canada, workers and businesses from a wide range of sectors will benefit from guaranteed preferential access to the world’s second largest economy and the second largest importing market for goods. The large and dynamic EU market offers tremendous opportunities and a real competitive edge for Canada.
“I’ve had an excellent experience interacting with the Trade Commissioner Service in Canada and abroad. Their professional and prompt service has helped Team Eagle access programs, such as CanExport, to grow our business reach.”
“Canada is a great brand in foreign markets. We have something unique to offer.”
“CETA will enhance cooperation in the technology sector, it will allow us to bid and compete for contracts and to provide our services to EU clients as a Canadian company.”
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