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ARTICLE · 06 JULY 2016

Update On CETA: Industry Awaits Ratification Amidst "Brexit" Uncertainty

Miller Thomson
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In October 2013, it was announced that Canada and the EU had reached an agreement in principle with respect to the Canada-European Union Comprehensive Economic and Trade Agreement (CETA).

CanadaInternational Law

In October 2013, it was announced that Canada and the EU had reached an agreement in principle with respect to the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). CETA is intended to co-exist with other trade agreements including the Trans-Pacific Partnership (TPP). CETA is Canada's largest trade initiative since NAFTA and provides Canadian exporters preferential access to the EU, which is a bigger market than the U.S. and Mexico put together.

When CETA is implemented, tariffs will be lowered or eliminated on a wide range of agricultural products including wheat, fresh and frozen fruits and vegetables, maple syrup, processed pulses and grains, oils, and others. CETA will also provide new market access for Canadian agricultural exports such as beef, pork, and bison. Only goods made in Canada or in the EU will benefit from preferential tariffs. Accordingly, there are mechanisms to address whether a product is in fact Canadian or EU in origin.

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