27 May The Canada-European Union Comprehensive Economic and Trade Agreement (Ceta)

The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is a trade deal between Canada and the European Union that was signed in October 2016. The agreement is aimed at boosting trade and investment between the two parties, and has been hailed as one of the most comprehensive trade deals ever signed.

Under CETA, tariffs on a wide range of goods and services will be eliminated, making it easier and more profitable for businesses on both sides of the Atlantic to trade with each other. The deal also includes provisions for opening up government procurement contracts, protecting intellectual property rights, and promoting sustainable development.

One of the main benefits of CETA for Canadian businesses is increased access to the vast European market. This will help Canadian companies to expand their customer base, increase sales, and create jobs. For example, the elimination of tariffs on goods such as seafood, beef, and maple syrup will make these products more competitive in Europe, which is the world`s largest market for food and beverage products.

In addition, CETA includes provisions for protecting Canadian cultural industries, including the audiovisual sector and publishing industry. This was one of Canada`s main priorities during the negotiations, and the fact that these industries were protected in the final agreement was a major win for the Canadian government.

For European businesses, CETA will provide increased access to the Canadian market, which is one of the largest and most open economies in the world. This will benefit companies across a range of industries, from automotive and aerospace to pharmaceuticals and IT.

CETA has not been without controversy, however. Critics have raised concerns about the impact of the deal on workers` rights and the environment, and there have been protests in some European cities against the agreement. In addition, some Canadian industries, such as dairy farmers, have expressed concern about the impact of increased European competition on their livelihoods.

Despite these concerns, however, the benefits of CETA are clear. By reducing tariffs and opening up markets, the agreement will help to create jobs, boost economic growth, and promote innovation and productivity on both sides of the Atlantic. For businesses looking to expand their global operations, CETA represents a major opportunity to tap into new markets and grow their bottom line.