Hot Mar­kets

New and up­com­ing trade agree­ments are cre­at­ing de­mand for B.C. ex­porters

BC Business Magazine - - Small Business -

EURO­PEAN UNION

The EU is al­ready B.C.'S fifth-largest ex­port des­ti­na­tion. Once the Com­pre­hen­sive Economic and Trade Agree­ment (CETA) be­tween Canada and the EU comes into ef­fect (pro­vi­sional ap­pli­ca­tion starts on Septem­ber 21), tar­iffs on al­most all of B.C.'S ex­ports will be pro­gres­sively elim­i­nated. CETA also in­cludes pro­vi­sions that ease reg­u­la­tory bar­ri­ers, re­in­force in­tel­lec­tual prop­erty rights and en­sure more trans­par­ent rules for mar­ket ac­cess. Here are a few B.C. ex­ports ex­pected to flour­ish: • Forestry and wood prod­ucts–tar­iffs as

high as 10 per cent will be cut • Fish and seafood–tar­iffs as high as 25 per

cent will be cut • Agri­cul­ture and agri-food–al­most 94 per cent of EU Cana­dian prod­uct lines will be duty-free • Clean tech­nol­ogy– CETA re­moves all tar­iffs on clean­tech prod­ucts. B.C. com­pa­nies will also ben­e­fit from im­proved labour mobility pro­vi­sions and ex­panded ac­cess to EU govern­ment pro­cure­ment op­por­tu­ni­ties

SOUTH KOREA

The Canada-korea Free Trade Agree­ment (CKFTA) took ef­fect in early 2015. Even­tu­ally, tar­iffs will be elim­i­nated for: • Hal­ibut, prawns, sable­fish and salmon–

from a cur­rent rate of 20 per cent or more • Blue­ber­ries, cher­ries and cran­ber­ries–

from a cur­rent rate of up to 45 per cent • Wine–from a cur­rent rate of 15 per cent

OTHER PROV­INCES

The Canada Free Trade Agree­ment (CFTA), which went live on July 1, will re­duce ob­sta­cles to the free move­ment of peo­ple, goods, ser­vices and in­vest­ment be­tween prov­inces • Den­tal hy­gien­ists, in­sur­ance ad­justers, welders and plumbers–pro­vi­sions al­low oc­cu­pa­tional cer­ti­fi­ca­tions to be rec­og­nized across the coun­try ■

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