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- As trade in goods continued to advance bilaterally under CETA, EU products made inroads into the Canadian market through expanding its market share in Canada’s total imports from 9.9% in 2016 to 11.3% in 2019. The EU was the 2 nd most important partner to Canada in merchandise trade, following the United States.
www.international.gc.ca/trade-commerce/economist-economiste/statistics-statistiques/overview_canada_eu-apercu_canada_ue.aspx?lang=eng
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Canada has steadily increased its importance in EU trade and has become the EU’s 11 th most important trading partner. COVID-19 has had an immediate and strong impact on Canada-EU bilateral trade and their respective trade with the world. Canada-EU bilateral trade in goods dropped 11.4% to €59.2 billion in 2020 compared to 2019.
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The value of trade in goods between the EU and Canada was €53.3 billion in 2020.In 2020, the EU had a positive trade balance with Canada of €13.3 billion in trade of goods and €3.7 billion in services.The EU is Canada's third largest trading partner after the United States and China, accounting for 8.2% of its trade in goods with the world in 2020.Canada accounted for almost 1.5% of the EU's total external trade in goods in 2020.CETA brings benefits for people and businesses around Europe, including. 1. scrapping most customs duties and cut red tape; 2. making it easier for Europeans to work in Canada, and; 3. many more benefits. The EU and Canada launched CETA negotiations in May 2009. After several years of negotiations, the EU-Canada Comprehensive Economic and Trade Agr...
The EU and Canada meet regularly to discuss issues and best practices and oversee the proper functioning of the Agreement. Technical committee meetings - agendas and reports
Trade relations are part of the EU's overall political and economic relations with CanadaCanada is a member of the World Trade OrganizationThis report reviews the two partners’ trade performance three years after CETA provisionally came into effect. In particular, it compares trade performance in year 2016 (pre-CETA provisional application) with year 2019 (post-CETA provisional application and pre-COVID 19 pandemic).
The EU-Canada Comprehensive Economic and Trade Agreement (CETA) is a progressive trade agreement between the EU and Canada. It entered into force provisionally in 2017, meaning that most of the agreement now applies.
CETA is the first EU trade agreement that offers benefits to EU companies investing outside the EU. It will make it easier for European firms to invest in Canada. CETA will: remove barriers for EU firms wanting to invest in Canada. ensure all European investors in Canada are treated equally and fairly.
Our analysis confirms substantial economic gains: goods exports from the EU to Canada increased by 27 % and imports rose by 32 % due to the agreement. The services sector also showed robust growth, with 19 % and 15 % increases in exports and imports, respectively.
May 12, 2023 · • CETA has established stronger trade ties and a stable framework for trade relations between the EU and Canada, delivering substantial economic gains, through increased trade in goods, services as well as investment.
