The balance of these three years is very positive: bilateral trade between the EU27 and Canada has increased by 24% for goods and 25% for services as compared to the situation before CETA entered into force. This is much better than similar trends between the EU and the rest of the world over the same period of time.
Executive Vice President and acting Trade Commissioner Valdis Dombrovskis said: “Over the last three years, CETA has proved its value many times over – not alone in increasing trade and economic opportunities for companies and workers in the EU and Canada, but also by providing a framework for stronger cooperation on sustainability and climate action. This demonstrates the enduring power of trade to deliver added value in a range of areas. My job as Executive Vice President of the Commission is to make sure we have an economy that works for people; it is clear that CETA contributes to that objective - and many more.”
CETA is a progressive agreement, which creates opportunities for sustainable growth and reflects our shared values. Key areas of work in the framework created by the agreement are now how to use CETA to contribute to effective implementation of the Paris Agreement, how to make trade policy more responsive to gender issues, and how to best support our smaller businesses using the trade opportunities with Canada.
CETA is a cornerstone of our bilateral relation with Canada, which we use as a platform to address together challenges in international trade system and the post-COVID global economy.
- 21 September 2020
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