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Trade agreement between the EU and Canada

Artis Pabriks

Maple syrup for all! After 6 years of negotiations, the successful results of the EU-Canada trade talks are now ready for the European Parliament and the Member States’ approval. The Comprehensive Economic and Trade Agreement (CETA), the biggest trade agreement ever sealed by the EU, will increase trade in goods and services between the EU and Canada by nearly a quarter. It is expected that this trade deal will increase Europe’s GDP by up to €12 billion per year. One can only agree that bringing down trade barriers will help our companies and therefore create news jobs in the EU. By removing 99% of customs duties, it is surely a win-win situation for businesses, especially for SMEs.

The EPP Group has supported and worked for the agreement and will work on its speedy ratification. Artis Pabriks, who leads the CETA talks on the European Parliament’s side, has committed himself to doing everything necessary to start the ratification process as soon as possible. The sooner we ratify it, the sooner we will benefit from it.

For us it is also important that we do not lower any of our standards in the agreement with Canada. And this has now been well guaranteed with the CETA. For example, the high EU food safety standards remain because companies on both sides will have to fully respect and comply with the quality and safety standards of the other side.

We believe that the CETA – an ambitious, comprehensive and balanced trade agreement – will, when ratified, bring us new opportunities, jobs and economic growth.

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