EU AND CANADA CELEBRATE FOURTH ANNIVERSARY OF CETA
The 21st of September marked the fourth anniversary of the provisional implementation of the EU-Canada Comprehensive Economic and Trade Agreement (CETA). The Commission reports that since CETA entered into force, total trade flows between the EU and Canada witnessed an increase of 15.3% for goods despite the pandemic. Similarly, trade in agricultural goods increased by 34.7%.
CETA is an ambitious and comprehensive free trade agreement that covers virtually all sectors and aspects of EU-Canada trade. The Commission notes that since September 2017, the broad scope of the trade agreement has offered a full range of benefits and advantages for EU businesses – including small and medium-sized enterprises (SMEs) in many sectors. Therefore, such trade agreements are now more important than ever in advancing businesses’ economic recovery during the Covid-19 pandemic and helping SMEs grow their businesses globally.
CETA is also an agreement which contains strong commitments on sustainable development, and which provides a platform for the two sides to cooperate and exchange views on a wide range of sustainability issues, from climate change to labour rights.
Source: European Commission