Complete Canada-EU Text Reached

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Foreign Affairs, Trade and Development Canada Aug 11, 2014

Planning under way for September trade mission and Canada-EU Summit

Last October, Canada, with the unanimous endorsement of all provinces and territories, reached a historic Agreement-in-Principle on a free trade agreement with the European Union. 

Today, Canada and the European Union are pleased to announce that officials have reached a complete text, allowing translation and final legal review to commence.

As per their involvement throughout the process, Canada’s provinces and territories have received the complete text and have been comprehensively briefed on its content as well as on next steps.

Planning has also begun for a September Canada-EU Summit that will be hosted in Canada.

Today, it was also announced that Prime Minister Harper and Minister Fast will lead a trade mission to the United Kingdom in early September to secure the jobs and first-mover competitive advantages the historic Canada-EU trade agreement creates.

Quick Facts

• The EU is the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion.
• 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.
• A joint study concluded that the trade agreement with the European Union would be of significant benefit to Canada, resulting in a 20-percent boost in bilateral trade and a $12-billion increase in Canada’s annual income (GDP), the equivalent to creating almost 80,000 new jobs or increasing the average Canadian household’s annual income by $1,000.

Quotes

“This is another important step toward the implementation of the historic Canada-EU trade agreement, which will create jobs and economic opportunities for hard-working Canadians in every region of the country. Our upcoming EU trade mission to the UK will help Canadian businesses secure their first-mover advantages in the largest and most lucrative market in the world, even as translation and final legal review of the text proceeds.”

 - Ed Fast, Minister of International Trade

What Has Been Said About CETA

Related Products

• Canada Reaches Historic Trade Agreement with the European Union
• Opening New Markets in Europe - An Overview
• Opening New Markets in Europe - Technical Summary of the Final Negotiated Outcomes

Associated Links

• Canada-European Union Comprehensive Economic and Trade Agreement