Canada and EU Celebrate Recent Trade Agreement
The Canada-EU trade agreement is a big win for workers and businesses on both sides of the Atlantic
February 12, 2014 - Toronto, Ontario - Foreign Affairs, Trade and Development Canada
Erin O’Toole, Parliamentary Secretary to the Minister of International Trade, today participated in an event with more than 20 European ambassadors to Canada, including Marie-Anne Coninsx, Ambassador of the European Union to Canada, to discuss the significance of the Canada-EU trade agreement and its major benefits to both economies.
The agreement-in-principle with the European Union—announced by Prime Minister Stephen Harper and European Commission President José Manuel Barroso last October—is a historic win for Canada. It will generate substantial gains across all key economic sectors, covering every region of Canada.
- The EU is the world’s largest integrated economy, with more than 500 million consumers and an annual GDP of $17 trillion.
- The EU is Canada’s second-largest trading partner after the United States.
- In 2012, Canada exported $55.5-billion worth of goods and services to the EU.
- Canada will be one of the few developed countries to have preferential access to the world’s two largest markets: the European Union and the United States.
- Out of more than 9,000 EU tariff lines, approximately 98 percent will be duty-free for Canadian goods when the Canada-EU trade pact comes into force.
“The Canada-European Union trade agreement is a big win for workers and businesses on both sides of the Atlantic. Providing new opportunities, opening markets and removing trade barriers to create jobs is our priority.”
- Erin O’Toole, Parliamentary Secretary to the Minister of International Trade
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- PM Tables Technical Summary of Canada-EU Trade Deal
- Global Markets Action Plan
Office of the Honourable Ed Fast
Minister of International Trade
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