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Canada Successfully Concludes Talks On Transitional Trade Continuity Agreement With The United Kingdom
By PCB Customs Brokers, Global Affairs Canada Nov 21, 2020
In light of the United Kingdom’s departure from the European Union and by extension the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), the Government of Canada has been working hard to ensure continuity for Canada-United Kingdom trade – especially now as we build a strong economic recovery from the COVID-19 pandemic.
Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, along with Elizabeth Truss, the United Kingdom’s Secretary of State for International Trade, announced the successful conclusion of talks for the Canada-United Kingdom Trade Continuity Agreement - an interim deal that will be in place as Canada and the United Kingdom work towards negotiating a comprehensive free trade agreement.
As CETA will no longer apply to the United Kingdom beginning January 1, 2021, this new agreement will provide continued access to the benefits of CETA on a bilateral basis, including the elimination of tariffs on 98% of Canadian products exported to the United Kingdom. This will provide a competitive edge to Canadian exporters and businesses who will maintain preferential access to the United Kingdom market, even as the country exits the EU.
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