Declaration by the President of the European Commission and the Prime Minister of Canada
"A new era in EU-Canada relations"
With today’s announcement of the successful conclusion of negotiations for a Comprehensive Economic and Trade Agreement (CETA), we have taken a crucial step forward in strengthening relations between the European Union and Canada. We are now committed to finalizing the remaining technical and legal work expeditiously, so that the CETA can be formally concluded as soon as possible.
CETA is a 21st-century, gold-standard agreement that will create new opportunities on both sides of the Atlantic, generating more trade and investment, thus promoting growth and supporting more European and Canadian jobs. The Canada-EU CETA addresses a wide range of issues, including improved access for goods and services; greater certainty, transparency and protection of investments; enhanced cooperation in areas of mutual interest, such as regulatory development and labour mobility; and new opportunities in procurement markets. Once implemented, the agreement is expected to increase two-way bilateral trade in goods and services by 23 percent or about €26 billion (C$38 billion).
Today’s breakthrough on CETA, together with the forthcoming Strategic Partnership Agreement, marks the start of a new, stronger chapter in the long-standing partnership between the EU and Canada. We look forward to meeting in Canada for the next Canada-EU Summit in the months ahead.
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