Canada-European Comprehensive Economic and Trade Agreement (Ceta)

Canada-European Comprehensive Economic and Trade Agreement (CETA) is a free trade agreement between Canada and the European Union (EU). CETA was signed in October 2016 and it came into force in September 2017. The agreement aims to eliminate tariffs on goods and services between Canada and the EU, and to reduce non-tariff barriers to trade.

The agreement covers a wide range of sectors, including agriculture, fisheries, manufacturing, and services. It also includes provisions on intellectual property, investment, and government procurement. CETA will make it easier and cheaper for Canadian companies to do business in the EU, and vice versa.

One of the key benefits of CETA is increased market access for Canadian goods and services in the EU. This will help Canadian businesses expand into new markets, create jobs, and boost economic growth. In addition, CETA will provide greater certainty and protection for Canadian investors operating in the EU.

CETA also includes provisions on sustainable development and labour rights. The agreement recognizes the importance of protecting the environment and promoting sustainable development, and it includes commitments to protect workers’ rights and promote decent working conditions.

However, CETA has been controversial, with some critics arguing that it could undermine Canadian sovereignty and lead to job losses. Some environmental and labour groups have also raised concerns about the potential impact of CETA on the environment and workers’ rights.

Despite these concerns, CETA represents a significant step forward in Canada`s trade relationship with the EU. The agreement will help strengthen economic ties between Canada and the EU, promote sustainable development and protect workers’ rights. It also highlights Canada`s commitment to free trade and its willingness to engage in international cooperation to promote economic growth and stability.

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