Canada-eu trade deal close to conclusion
A bilateral trade agreement between Canada and the European Union would bring significant benefits to both trading partners, business leaders heard Wednesday.
Maurizio Cellini, head of the economic trade section of the EU delegation to Canada, said three years of intense negotiation on the pact are nearing a conclusion.
“There are still some issues to be discussed which are quite sensitive but I believe a lot of progress has been done so far,” he said.
Cellini, who was in Calgary on Wednesday to take part in a conference on the pact, said the deal opens new opportunities for Canadian businesses.
“It will make it easier to establish new business physically in Canada and the EU to do investments,” he said. “It will make it easier for workers and for labourers to move between Canada and the EU.”
“They’re difficult discussions and they’re including all of the provinces, so it’s the most comprehensive discussion that we have ever had and we plan to complete them as soon as is reasonably possible,” said Ted Menzies, Minister of State (Finance), who took part in the conference.
The pact — formally known as the Comprehensive and Economic Trade Agreement — would increase trade between Canada and the EU by 20 per cent and inject an extra $12 billion into Canada’s economy on an annual basis, he said.
“Lowering tariff barriers would increase sales of Alberta’s world-class exports from these critical sectors,” said Menzies.
Dennis Laycraft, executive vice-president of the Canadian Cattlemen’s Association, an observer at Wednesday’s discussion, said his association views the pact with Europe as potentially the most significant trade agreement since the Canada/U.S. trade agreement.
“Previously Europe used to be our second largest export market and we think there’s potential to regain that,” said Laycraft, of the beef cattle industry. Mexico is the second largest now.
“Beef is going to be one of the last issues to be dealt with. But I do believe we’ll conclude these negotiations within the next 60 to 90 days.”
The EU is Alberta’s fourthlargest export market and third-largest trading partner. A comprehensive agreement would eliminate tariffs on key provincial exports such as agricultural commodities, energy, chemicals and plastics and advanced manufacturing, including industrial machinery. It would also improve access for Alberta’s service suppliers in the EU market, creating new export opportunities for services of interest to the province, such as oil and gas services.
Cal Dallas, Minister of Inter- national and Intergovernmental Relations for Alberta, said the province has a significant stake in the negotiations given that two-way trade between Alberta and the EU is valued at about $3.3 billion a year.
“A successful CETA will open the door to immense, untapped potential for Alberta businesses and our trade in Europe,” he said.
The EU is Canada’s secondlargest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion.
“CETA breaks new ground in trade agreements and its implementation will heighten Canada’s competitive position in the world, create jobs and will bring about a more energetic economy in all sectors across the country,” said Celso Boscariol, president of the Italian Chamber of Commerce in Canada — West.