Harper Government Highlights Widespread Manufacturing Benefits of Historic Canada-EU Trade Agreement to Ontario Workers and Businesses
Deeper trade with European Union will create new jobs and opportunities for workers across Ontario
October 30, 2013 - The Honourable Ed Fast, Minister of International Trade, today underscored how workers and businesses in key economic sectors throughout Ontario will benefit greatly 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 on October 18, 2013. Minister Fast was joined at Armo Tool Limited in London, Ontario, by many of the province’s key business and industry leaders.
“This historic agreement is Canada’s most ambitious ever and is a big win for Ontarians,” said Minister Fast. “Workers and families who rely on key sectors of Ontario’s economy for their livelihood, including those in manufacturing, information and communications technology, financial services, chemicals and plastics, and agricultural industries, stand to benefit from the preferential access this agreement provides to the largest and most lucrative market in the world.”
As one of the hubs of Canada’s manufacturing sector, Ontario is deeply integrated into North America’s economy and value chains. The province’s manufacturing industry is diverse and covers many sub-sectors, including cars and transportation equipment, information and communications products, chemicals and plastics, and agri-food—to name just a few. In 2012, more than 800,000 hard-working Ontarians were employed in the dynamic manufacturing sector.
When the Canada-EU trade agreement is fully implemented, 100 percent of tariffs will be eliminated on Canadian industrial products.
“Our world-class manufacturing sector is a key driver of Ontario’s economy,” added Minister Fast. “Eliminating tariffs on these high-quality products will create the conditions to increase sales, which will directly benefit hard-working Ontarians through new jobs, new opportunities and higher wages.”
The EU is 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 Ontario, please visit Benefits for Ontario.
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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