British Columbia is a strong supporter of rules-based trade and the many benefits that free trade agreements bring for B.C. businesses and all British Columbians.
Free trade agreements remove impediments to trade and create a safer and more dependable business environment for investors. Improving the flow of goods and services helps to create a strong and diverse economy, allowing B.C. companies to grow their business and create good jobs and opportunities in every corner of the province.
- The Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA) came into effect on Sept. 21, 2017. This agreement covers virtually all sectors and aspects of Canada-EU trade, and has removed tariffs on 98% of imports from Canada.
- B.C. exporters now have increased access to 500 million consumers, including:
- Duty-free access for forestry and wood products; and
- New markets for agricultural and agrifoods products, fish and seafood.
- CETA is considered a “mixed agreement.” As a mixed agreement, each member state of the EU must ratify it individually in order for the agreement to be fully brought into force. Currently, about 95% of the provisions are in effect. The remaining 5% will be put into effect after all member states have ratified.
- Many member states, including Spain, Portugal, Denmark, Croatia, Czech Republic, Malta, Lithuania and Latvia have already ratified CETA.
- Once CETA is fully implemented, the EU will have eliminated tariffs on 99% of imports from Canada.
- Canada and the EU signed CETA on Oct. 30, 2016, in Brussels, Belgium.
To learn more about the Canada-EU Comprehensive Economic and Trade Agreement, visit: www.international.gc.ca/CETA