One year on: EU-Canada trade agreement delivers positive results
Friday 21 September will mark the first anniversary of the provisional entry into force of the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada.
Early signs show that the agreement is already starting to deliver for EU exporters. Commissioner for Trade Cecilia Malmström said: “The EU-Canada trade agreement has now been in action for a year and I’m pleased with the progress made so far. The preliminary data shows there is plenty to celebrate, even at this stage. Exports are up overall and many sectors have seen impressive increases. Our partnership with Canada is stronger than ever – strategically as well as economically. Together, we are standing up for an open and rules-based international trading order. CETA is a clear demonstration of that.” The latest statistics available, covering the October 2017 to June 2018 period, suggest that exports are up by over 7% year on year. EU exports benefiting the most include machinery, mechanical appliances and footwear that are up by over 8%; pharmaceuticals and furniture that are up by 10%, as well as cosmetics and clothing that are up by 11%. In terms of agri-food products, exports of fruit and nuts increased by 29%, chocolate by 34%, sparkling wine by 11% and whisky by 5%.Commissioner Malmström will visit Canada on 26 and 27 September to take stock of progress. Examples of companies that are already benefitting from CETA in various ways are available here. For more information see the full press release and a dedicated CETA website.