CETA Free Trade Agreement Could Benefit Canada More Than EU

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By Jax Jacobsen, Geopolitical Monitor Nov 11, 2014

Late last week, an assembly of trade specialists, law professors and high-ranking policy officers from both Canada and the European Union converged at McGill University to discuss the details of the recently-reached Comprehensive Economic and Trade Agreement (CETA), itself pounded out over five years of intense negotiations.

The Canada-EU free trade pact aims to expand trade liberalization by removing tariffs and bilaterally facilitating the export of goods and services. In its current form, the treaty has succeeded in eliminating 95% of tariffs from the agricultural sector, and has removed significant non-tariff barriers that were impeding access to both markets.

The agreement gives Canadian companies access to a market of 500 million people, and provides Canada with the upper hand in future dealings with the EU, one conference attendee said.

“It gives Canada a strong strategic advantage. The EU is the largest market in the world, and it is home to more Fortune 500 companies than the U.S.”

Completing the CETA negotiations before the start of EU-US trade talks has also given Canada some leverage over its southern neighbor, he said.

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