Harper Government Meets with Industry Leaders to Discuss 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 26, 2013 - The Honourable Peter MacKay, Minister of Justice and Attorney General of Canada, and regional minister for Nova Scotia, today met with key business and industry leaders in Nova Scotia to discuss how their enterprises 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 MacKay held round-table discussions in Stellarton and Truro, Nova Scotia, where he was joined by Scott Armstrong, Member of Parliament for Cumberland-Colchester-Musquodoboit Valley.
“This historic agreement is Canada’s most ambitious ever and is a big win for Nova Scotia’s workers and families,” said Minister MacKay. “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 forestry and wood products sectors, stand to benefit from the preferential access this agreement provides to the largest and most lucrative market in the world.”
The Canada-European Union trade agreement will provide great benefits to Nova Scotia’s fish and seafood industry, which employs more than 9,000 Nova Scotians, by eliminating all tariffs on its key exports—including tariffs of 20 percent on cooked and peeled shrimp, 8 percent on live lobster, up to 16 percent on frozen lobster and 8 percent on frozen scallops. These and other tariff eliminations in the fish and seafood sector will be of great benefit to Nova Scotia.
Upon entry into force, the agreement will also open up new markets for Nova Scotia’s forestry and value-added wood products. The elimination of EU tariffs on these products will make them more competitive and create the conditions for increased sales.
“Nova Scotia’s forestry sector makes a vital contribution to the province’s economy, employing some 5,300 Nova Scotians in jobs that tend to be highly skilled,” added Minister MacKay.
The same goes for Nova Scotia’s diversified agricultural and agri-food sector, which employs over 10,000 Nova Scotians. The day the agreement is implemented, it will lock in a duty-free rate that could otherwise go as high as 14.4 percent on fresh and frozen fruits and vegetables; it will also eliminate EU tariffs of up to 9.6 percent on fresh blueberries and 12.8 percent on processed goods.
The extensive benefits extend to other sectors in Nova Scotia, including, for example, the service industry, which is a key driver of Nova Scotia’s economy.
Upon coming into force, the Canada-EU trade agreement will establish preferential access to, and greater transparency in, the EU services market—one of the largest services economies in the world, worth approximately $12.1 trillion in GDP terms in 2012. This will result in better, more secure and predictable market access in areas of interest to Nova Scotia, such as environmental services, research and development, engineering, architecture and other professional services.
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-EU 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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