Learn about CETA benefits for businesses
Small and medium-sized enterprises (SMEs), which represent 90% of all private sector jobs in the country, create high-quality jobs and advance economic growth in Canada. Through the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), Canada and the EU have taken steps to help SMEs better participate in international trade and regional supply chains.
What does that mean for your business? It means a full range of benefits across all industry sectors.
Benefits for SMEs
CETA benefits SMEs in Canada and in the EU by enhancing their ability to participate in and benefit from the opportunities created by the agreement and international trade.
It does this by:
- creating advantageous conditions for SMEs by eliminating tariffs on 98% of current Canadian exports to the EU and providing enhanced access for service providers
- making trade more predictable, transparent and accessible by offering a single set of high-standard rules for trade across the EU
- addressing key challenges and barriers to doing business in the global marketplace, such as technical barriers to trade, that disproportionately affect SMEs
- enhancing market access for Canada’s services industries and providing a comprehensive set of investment protection measures backed by a robust mechanism for resolving investment disputes
- lowering the costs of participating in international trade, including by establishing new rules that address potential barriers to digital trade and protect the free flow of data across borders
- simplifying procedures for clearing goods through customs, including by making specific commitments to enhance transparency and make information available online for SMEs
- promoting fair business practices and creating a level playing field with enforceable rules on state-owned enterprises
Grow your business with CETA
Whether you sell goods or services or you’re seeking new business partners in your supply chain, CETA can help you grow your global sales.
- Increases competitiveness: With lower or no tariffs, it costs less to take Canadian products or services to the EU. Once CETA is fully implemented, approximately 99% of the EU’s tariff lines will be duty-free.
- Provides access to new customers: CETA makes it easier for Canadian SMEs to sell to customers in the EU, including foreign governments. Under the agreement, Canadian companies can bid on opportunities at all levels of the EU government procurement market, which is worth an estimated $3.3 trillion annually.
- Makes foreign markets more transparent and stable: CETA offers Canadian businesses better predictability, protection and transparency in EU member countries. The agreement promotes fair business practices and creates a level playing field with enforceable rules. CETA also promotes progress on meeting or exceeding global standards for labour, the environment, and responsible business practices.
- Removes barriers to trade: CETA reduces border-crossing delays to EU member countries, which gets your product to market more quickly. Canada and the EU are working to keep customs procedures simple, effective, clear and predictable to reduce processing times at the border and make the movement of goods cheaper, faster and more efficient. The agreement also addresses potential barriers to digital trade and protects the free flow of data across borders.
- Improves access for services companies: With a few exceptions, your services company will be treated the same way as those from the EU. There’s also better predictability and transparency in several service sectors, including architectural, engineering, and R&D. CETA’s temporary entry provisions can make it easier for highly skilled professionals, such as engineers and senior managers, to work temporarily or fulfill contracts in the EU.
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