From 21st September firms across the UK will be able to take advantage of a near-total removal of tariffs on exports to Canada, as the EU-Canada Comprehensive Economic and Trade Agreement (CETA) is provisionally applied.
CETA is the most extensive free trade agreement to date. The agreement scraps 98% of import duties, giving UK companies easy access to a valuable market of more than 35 million people and opening the door for companies to strike up productive relationships for future trade with Canada.
DIT is keen for companies across the UK to take advantage of the opportunities CETA
A factsheet that summarises the changes CETA brings for the food and drink sectors can be downloaded here.
The UK Government is committed to seeking continuity in its current trade and investment relationships, including those covered by EU FTAs and provide certainty for businesses. CETA will not only boost exports in the short term, generating jobs and growth, but is also an opportunity to lay solid foundations for the UK’s future trading relationship with Canada.
The Prime Minister recently announced the establishment of a new joint working group to examine how DIT can transition the ambitious measures set out in CETA. This will be the 13th working group established across 18 countries since the EU referendum.