Skip to main content

Liberal

Search kelownalakecountry.liberal.ca

Local Business Set to Reap Advantages of Free Trade Agreement with the EU

Posted on September 20, 2017

Sept 20, 2017                               Kelowna, British Columbia                                           International Trade

Stephen Fuhr, Member of Parliament for Kelowna-Lake Country is pleased to announce that the Comprehensive Economic and Trade Agreement (CETA), the new free trade agreement between Canada and the EU, will be provisionally applied on September 21, 2017.

Local businesses that currently export to the EU, or are considering doing so in future, should be aware that this free trade agreement will bring many advantages including the elimination of tariffs and the reduction of non-tariff barriers.  Companies that export services rather than goods, will also enjoy preferential access to EU markets, putting Canadian business on the same footing as EU firms and giving you a distinct advantage over most of your non-EU competitors.

Local businesses are encouraged to find out more about CETA and what it means for their business by visiting Global Affairs Canada’s CETA website at www.international.gc.ca/CETA .  The website contains extensive information about CETA and the new EU market opportunities it brings. Of particular note is the new Canada Tariff Finder (www.tariffinder.ca), an online tool which can help you find the Harmonized System code for your products and the corresponding EU preferential tariff rate applying to them.  It also notes the higher MFN (Most Favoured Nation) rate faced by most of your non-EU competitors, letting you know your competitive edge under CETA.

Mr. Fuhr would also like to draw attention to the Canadian Trade Commissioner Service (TCS) which stands ready to assist local business in more than 160 cities across Canada and around the world. The TCS provides export-capable firms with on-the-ground intelligence and practical advice on foreign markets.  Its services are free and its value proposition is compelling.  You can find more information about the TCS and its export-related services at the following website: http://tradecommissioner.gc.ca/trade-commissioner-delegue-commercial/search-recherche.aspx?lang=eng.

CETA will be a great opportunity for exporters, importers, workers and consumers, all of whom will benefit from improved market access, lower costs to doing business, and a better selection of goods and services. Canada is now one of only a handful of countries that has guaranteed preferential access to both the U.S. and the EU, which together account for nearly half of the world’s economic output. This puts Canada right at the centre of a network of free trade agreements connecting the Americas, Asia, and Europe.

For media enquiries, please contact:

 

Stephen Fuhr, CD, MP

250 470-5075

Join the conversation