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Canadian Ministers Highlight EU FTA Benefits
By Mike Godfrey, Tax-News.com Mar 26, 2013
Canadian ministers have been promoting the European Union (EU) trade agreement currently under negotiation, telling Quebec manufacturers and exporters that they can only benefit from the deal.
International Trade Minister Ed Fast, accompanied by Christian Paradis, Minister of Industry and Minister of State (Agriculture), took part in a roundtable session with the Manufacturiers et Exportateurs du Québec (MEQ). The EU is Canada’s second-largest trading partner, and according to Paradis: "Increasing Quebec’s exports to the mass EU market will create new jobs and new opportunities for workers and business throughout Quebec."
In particular, the ministers discussed the likely impact of the agreement on Quebec's key chemicals, plastics and aluminum industries. Fast believes that Quebec's strengths in these areas mean that it is "well placed" to meet EU demands. At present, the EU's tariffs on Canadian chemicals and plastics average 4.9%, while those on aluminum average 6.3%. These tariff barriers would be eliminated immediately upon a deal's entry into force.
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