An important achievement of CETA was the removal of most tariffs between Canada and the EU:
- 99% of tariffs on industrial goods removed
- 92% (Canada) and 93% (EU) of tariffs on agricultural goods removed
- Exceptions were made for meat, eggs, and cheese
CETA also allowed for more cooperation between Canada and the EU:
- Easier customs and trade procedures and reduced processing times at the border allowing for easier movement of goods
- Regulatory cooperation and conformity assessments to ensure that Canadian manufacturers adhere to EU standards
- Greater labour mobility between Canada and the EU
- EU and Canadian governments can bid on each other’s public projects
- For example: a new German government building could be constructed by a Canadian company
- Easier and more certain investment between Canada and the EU
- Protection for environmental and labour regulations
- A new investor-state tribunal to ensure protection for foreign investors
Click HERE to read the full text of CETA.
Click HERE to see the reactions of Canadians and Europeans to CETA
Sources:
European Commission, “CETA explained”
Government of Canada, “Agreement overview”