Harper Government Highlights Widespread Benefits to Nova Scotia of Historic Canada-EU Trade Agreement
Deeper trade with European Union will create new jobs and opportunities across Nova Scotia
October 23, 2013 - The Honourable Ed Fast, Minister of International Trade, today said that workers and businesses in key economic sectors throughout Nova Scotia will greatly benefit from the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). An agreement-in-principle for this historic deal was announced by Prime Minister Stephen Harper and European Commission President José Manuel Barroso last week. Minister Fast was joined at the event at the Port of Halifax by Michael John Savage, Mayor of Halifax Regional Municipality; Karen Oldfield, President and Chief Executive Officer of the Halifax Port Authority; and other key business and industry leaders.
“This historic agreement is Canada’s most ambitious ever and is a big win for Nova Scotia’s workers and families,” said Minister Fast. “Workers and families who rely on key sectors of Nova Scotia’s economy for their livelihoods, including those in the fish and seafood, agriculture, manufacturing and shipping industries, stand to benefit from the preferential access this agreement provides to the largest and most lucrative market in the world.”
Nova Scotia’s fish and seafood exports to the EU were worth an average of $142.6 million annually between 2010 and 2012, making this sector the largest source of the province’s exports to the EU. Employing more than 9,000 Nova Scotians, the sector is a key driver of the provincial economy.
Currently, Canadian fish and seafood exports to the EU face tariffs of up to 25 percent. When the Canada-EU trade agreement is fully implemented, these tariffs will be eliminated.
“Nova Scotia’s fish and seafood industry is one of the leading exporters of seafood in Canada,” added Minister Fast. “Eliminating tariffs on these world-class products will create the conditions for increased sales, which will directly benefit Nova Scotians through new jobs, new opportunities and higher wages.”
For example, the Canada-European Union trade agreement will eliminate tariffs of 20 percent on cooked and peeled shrimp, 8 percent on live lobster, 6 to 16 percent on frozen lobster and 8 percent on frozen scallops. These and other tariff reductions in the fish and seafood sector will be the greatest benefit to Nova Scotia.
The EU is Nova Scotia’s second-largest export destination and largest trading partner. It is also the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion.
For more information on how the Canada-European Union trade agreement will benefit Nova Scotia, please visit Benefits for Nova Scotia.
For more information on the vast benefits of this agreement to every region of Canada, please visit actionplan.gc.ca/CETA.
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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