Recent Trade News
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Reduced Inspection Frequencies For Meat Imported From Australia And New Zealand
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Safe Food For Canadians Regulations (SFCR) Requirement For The Manufactured Food Commodities
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Tariff Elimination Under CETA Could Add $1.4 Billion to Canadian Goods Exports to Europe by 2022
Canadian Manufacturing Jul 07, 2015
Agriculture, food and beverage, and chemicals likely to see the greatest export gains from tariff elimination
Canada’s goods exports are expected to grow by $1.4 billion by 2022 due to reduced tariffs through the Canada-European Union Comprehensive Economic and Trade Agreement, according to new Conference Board of Canada report. And the benefits are unlikely to end there.
“While the elimination of tariffs on goods is usually the most visible feature of any free trade agreement, it is only one part of CETA. Canadian industries and firms will get only modest benefits from the deal if they sit back and wait for lower tariffs to boost their sales,” said Danielle Goldfarb, associate director of the Global Commerce Centre, which produced the research for the report.
“The greater gains from CETA are likely to come from the reduction of non-tariff barriers and liberalization of services trade. Those companies that proactively innovate and adapt their offerings for the huge EU market will get much more out of the deal,” she added.
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