Canada-European Union Comprehensive
Economic and Trade Agreement
Overview
- The CETA is an international trade agreement between the European Union and Canada.
- Formal negotiations started in 2009 and ended last fall.
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- It will eliminate 99% of tariffs between the two economies, open new markets, attract investment, and create jobs.
Advantages & Disadvantages
- Disrupts "buy local" policies
- Foreign control of public service providers
- Exacerbate Canada's trade deficit
- Removes barriers of trade
- Protects consumers, business, and environment
- Introduces new technologies and business opportunities
Contributions to Global Trade
Mission, Goals & Functions
The agreement is to generate significant benefits for all Canadians such as creating jobs and raising the standard of living.
To create a business environment where Canadian companies can grow and prosper.
Opportunity to link the NAFTA market overseas to Europe.
CETA brings the continents closer together by promoting the free flow of goods, people, and ideas.
Encourages creativity, competition, productivity and peace.
Impacts on Canada
Organizations Against CETA
- Social Action Organizations
- Federation of Canadian Municipalities
Organizations Supporting CETA
- Canada-EU Roundtable for Business
- Provincial Governments
- Gains access to the sophisticated and mature EU market ( annual $18 trillion worth of business activities)
- Create more than 80,000 new jobs
- Bring in an average of $1000 extra in family income
- Increase Canada's economy by $12 billion.