You might have heard about CETA in the news, but what exactly is it? This section will tell you all about CETA and the history of trade relations between Canada and the EU.
CETA stands for Comprehensive Economic and Free Trade Agreement. It is a free trade agreement between Canada and the EU which eliminates the majority of tariffs and duties between the two regions. Additionally, this agreement tackles non-tariff barriers such as regulations, standards (environmental, labour) and much more. Canada and the EU are already important trade partners; in 2016 the EU was Canada’s 2nd most important trading partner while Canada was 14th the for the EU. They are also important partners when it comes to trading in services and foreign investment.
Click HERE to learn about previous agreements between Canada and the EU.
(Source: European Commission)