Business & Policy
New trade agreement with Europe ratified, some conditions remain
The European Union has voted to ratify the Comprehensive Economic Trade Agreement (CETA) while asking the Canadian government to address important outstanding issues.
“Getting the CETA through the European Parliament is a tremendous step forward the farm and food sector that is growing through exports – it’s good news for trade and speaks to the Canadian government’s efforts so far,” said Brian Innes, president of the Canadian Agri-Food Trade Alliance (CAFTA). “But we need to make sure that the agreement delivers on its promises. Non-tariff barriers will prevent a large part of the agri-food sector from using the agreement if they are not resolved.”
The agreement holds huge potential for growth and has been supported by CAFTA since negotiations began eight years ago. It will eliminate EU tariffs on 94 per cent of Canada’s agri- food products, and could drive additional exports of up to $1.5 billion, including $600 million in beef, $400 million in pork, $100 million in grains and oilseeds, $100 million in sugar-containing products and a further $300 million in processed foods, fruits and vegetables.
Sticking points remain, related to EU treatment of crop input products, such as biotechnology, which need to be addressed before the agreement comes into force.
February 15, 2017 By Top Crop Manager