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The EU and Canada are among the largest traders in the world, of both goods and services. In 2020, Canada was the tenth largest partner for EU goods exports and the 16th largest partner for EU goods imports.
On 21 September 2017, the EU-Canada Comprehensive Economic and Trade Agreement (CETA) provisionally entered into force. CETA is a modern and progressive EU trade agreement, which offers EU firms more and better business opportunities in Canada, supports jobs in Europe, and protects consumers and the environment, allowing entrepreneurs and businesses of all sizes to benefit from its improved market access opportunities.
- 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.
- The top two product categories that the EU and Canada exported to each other in 2020 were:
- Machinery (36% of EU exports to Canada and 21% of its imports).
- Chemical and pharmaceutical products (24% of EU exports and 17% of its imports).
- Some of the largest services exported from the EU to Canada are TCI (telecommunications, computer and information), transport and use of certain Intellectual properties.
- Trade in services between the two parties amounted to €25.6 billion in 2020.
The EU and Canada
CETA brings benefits for people and businesses around Europe, including.
- scrapping most customs duties and cut red tape;
- making it easier for Europeans to work in Canada, and;
- 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 Agreement (CETA) provisionally entered into force on 21 September 2017. For CETA to enter into force fully and definitively, all EU Member States need to ratify the agreement in line with their national procedures. This process is still ongoing.
The trade negotiating mandate for CETA was made public in December 2015.
Committees and Dialogues
The EU and Canada meet regularly to discuss issues and best practices and oversee the proper functioning of the Agreement.
Trading with Canada
On 10 March, the EU and Canada concluded the negotiations for a ’Mutual Recognition Agreement’ (MRA) on the professional qualifications of architects.
Today marks the fourth anniversary of the provisional implementation of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).
On Monday 14 and Tuesday 15 June, the EU will play host to summits with its two transatlantic partners: Canada and the United States.