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Ceta's Impact On Trade Agreements Between Canada And The EU Studies

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The CETA is going to have a major impact on trade agreements between Canada and the EU studies have shown that the CETA will be of great economic gain to Canada that this agreement could improve income by around $12 billion annually and improve trade 20% the agreement will make Canada one of the only countries in the world to have access to the 2 leading markets in the world the US and now the EU (How CETA will benefit Canadas key economic sectors 2012).
The main effect of the CETA will be the removal of around 98-99% of all taxes/tariffs between the EU & Canada this is going to significantly reduce the price of the goods imported to and exported from Canada a main example being Oats which have a 52% tariff which acts as a major barrier to suppliers looking to trade in the EU market (How CETA will benefit Canadas key economic sectors 2012) under CETA this tariff will be removed this will serve to make firms more competitive in both the EU & Canadian markets as prices of goods in both countries will now be much cheaper (The European Commission 2017). The elimination of the Tariffs gives Canada an advantage over other countries the EU still has tariffs with this presents a great opportunity for those firms …show more content…

The CETA will establish a Regulatory Cooperation Forum which is a meeting which will serve as an opportunity for Canadian companies that work through the Regulatory Cooperation Forum that have an issue can request information at an early stage about new EU rules and regulations and give their opinion and advice on how best to develop and implement them which will improve cooperation between the two countries and reduce barriers to trade which in turn will make it easier for companies to do business in the EU (The Government of Canada

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