EU-Canada trade agreement enters into force
Welcoming this milestone in the EU's trade policy, President of the European Commission Jean-Claude Juncker said: "This agreement encapsulates what we want our trade policy to be - an instrument for growth that benefits European companies and citizens, but also a tool to project our values, harness globalisation and shape global trade rules. This trade deal has been subject to an in-depth parliamentary scrutiny which reflects the increased interest of citizens in trade policy. The intense exchanges on CETA throughout this process are testimony to the democratic nature of European decision making and I expect Member States to conduct an inclusive and thorough discussion in the context of the ongoing national ratification processes of the agreement. Now it's time for our companies and citizens to make the most out of this opportunity and for everyone to see how our trade policy can produce tangible benefits for everyone".
What will CETA do?
CETA offers new opportunities for EU businesses of all sizes to export to Canada. It will save EU businesses €590 million a year – the amount they pay in tariffs on goods exported to Canada. As of 21 September CETA removes duties on 98% of products (tariff lines) that the EU trades with Canada. It also gives EU companies the best access ever offered to companies from outside Canada to bid on the country's public procurement contracts - not just at the federal level but at provincial and municipal levels, too.
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