Harper Government Highlights Widespread Benefits to New Brunswick of Historic Canada-EU Trade Agreement
Deeper trade with European Union will create new jobs and opportunities across New Brunswick
October 25, 2013 - The Honourable Rob Moore, Regional Minister for New Brunswick, Minister of State (Atlantic Canada Opportunities Agency) and Member of Parliament for Fundy Royal, today underlined how workers and businesses in key economic sectors throughout New Brunswick will greatly benefit from the Canada-European Union Comprehensive Economic and Trade Agreement. 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 Moore was joined at the event at the Fredericton International Airport by David Innes, President and CEO of the Fredericton International Airport Authority, David Plante, Vice President, Canadian Manufacturers and Exporters, and other key business and industry leaders.
“This historic trade agreement is Canada’s most ambitious ever and will greatly benefit New Brunswick’s workers and families,” said Minister Moore. “Workers and families who rely on key sectors of New Brunswick’s economy for their livelihoods, including those in the fish and seafood, forestry and wood products, agricultural, and chemicals and plastics industries, stand to benefit from the preferential access this agreement provides to the largest and most lucrative market in the world.”
New Brunswick’s fish and seafood exports to the EU were worth an average of $38.2 million annually between 2010 and 2012. Employing more than 7,000 New Brunswickers, 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—the highest tariff rate faced by any New Brunswick exporting sector. When the Canada-EU trade agreement is fully implemented, these tariffs will be eliminated.
“New Brunswick’s fish and seafood sector is a vital component of the province’s social and economic fabric,” added Minister Moore. “Eliminating tariffs on these world-class products will create the conditions to increase sales, which will directly benefit New Brunswickers through new jobs, new opportunities and higher wages.”
The Canada-EU trade agreement will eliminate tariffs of 20 percent on cooked and peeled shrimp, 8 percent on live lobster, up to 16 percent on frozen lobster and 20 percent on processed lobster. These and other tariff eliminations in the fish and seafood sector will be of great benefit to New Brunswick.
“Our government is focused on what matters to all Canadians: creating new jobs and new opportunities,” said the Honourable Ed Fast, Minister of International Trade. “The Canada-EU trade agreement will generate substantial gains across all key economic sectors covering every region of Canada. In fact, Canada will be one of the only developed countries to have preferential access to the world’s two largest markets: the European Union and the United States. The competitive edge and combined access to these markets—and their more than 800 million affluent consumers—will make Canada the envy of trading nations worldwide. It will also make Canada an even more attractive destination for investors and manufacturers, and this in turn will create thousands of new jobs and new opportunities for Canadians.”
The EU is already New Brunswick’s second-largest export destination and fourth-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-EU trade agreement will benefit New Brunswick, please visit Benefits for New Brunswick.
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
Office of the Minister of State
Atlantic Canada Opportunities Agency
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