Comprehensive Economic and Trade Agreement (CETA)

11 Mar Comprehensive Economic and Trade Agreement (CETA)

Trade Negotiations and Agreements

Canada and the EU have a long history of economic cooperation. As an integrated block, the EU represents Canada's second largest trading partner in goods and services. Bilateral economic relations with the EU are very important to Canada, and this economic relationship is a high priority for the Government of Canada. Canada and the EU are working bilaterally to advance Canada-EU economic integration and facilitate trade and investment flows. The relationship is built on a base of concluded agreements and ongoing initiatives and negotiations.

Comprehensive Economic and Trade Agreement (CETA)

On 18 October 2013, Prime Minister Harper and European Commission President José Manuel Barroso announced an agreement in principle on a Comprehensive Economic and Trade Agreement (CETA). CETA is, by far, Canada's most ambitious trade initiative. Indeed, it is deeper in ambition and broader in scope than the historic North American Free Trade Agreement (NAFTA). Thedeclaration notes that this agreement marks the start of a new, stronger chapter in the long-standing partnership between the EU and Canada.