European Union free trade deal with Canada good for Parry Sound-Muskoka, say MP Clement
OTTAWA – Two days after a consumer-friendly Throne Speech that took pot shots at some big corps, Canada has a new free trade deal with Europe that the local federal MP and former industry minister says will help even local businesses in the riding.
Businesses in Parry Sound-Muskoka and across the country stand to benefit greatly from today’s announcement that Canada has reached an agreement in principle on a Comprehensive Economic and Trade Agreement (CETA) with the European Union, said Parry Sound-Muskoka MP Tony Clement.
“This will open new markets to Canadian exporters throughout Europe and generate significant benefits, new jobs and opportunities for all Canadians,” said Clement in a news release Friday.
“I have visited businesses across Parry Sound-Muskoka, including Langford Canoe, MBRP Inc., Crofters, Ontario Graphite, Kent Trusses and Bioscenta, that have indicated a deal of this nature holds potential for growth.”
The agreement will provide Canada with preferential market access to the European Union’s more than 500 million consumers. Canadian workers in every region of the country – including in sectors such as fish and seafood; chemicals and plastics; metal and mineral products; technology; forestry and value-added wood products; automotive; advanced manufacturing; and agriculture and agri-food – stand to benefit significantly from increased access to this lucrative 28 country market which currently generates $17 trillion in annual economic activity.
“This is a significant win for Canada. The benefits of this agreement are equivalent to creating almost 80,000 new jobs,” said Clement in the release. “Increased trade opportunities also provide Parry Sounders and Muskokans a greater choice of lower-priced goods and services. This helps our families make ends meets, and can boost our overall standard of living.”
Here’s why the government think’s it’s a good deal.
When Canada trades, the whole country becomes more competitive, as:
- Prices for goods and services fall;
- Wages, salaries and our standard of living rise;
- Businesses can hire more workers; and
- Canadian families benefit from greater choice and selection in goods and services.
The elimination of 98 per cent of all EU tariffs on the first day that the Agreement comes into force will translate into increased profits and opportunities for Canadian businesses of all sizes in every part of the country.
For example, the elimination of EU tariffs in the agricultural sector and the fish and seafood sector will mean that lobster fishermen in the Maritimes, maple syrup producers in Québec, apple growers in Ontario, grain producers in the prairies, cherry growers in British Columbia and arctic char farmers in the Yukon who export to the EU will see their bottom lines improve.
Historic Nature of the Canada-EU Trade Agreement
CETA is by far Canada’s most ambitious trade initiative ever. It is broader in scope and deeper in ambition than the historic North American Free Trade Agreement:
- CETA will make Canada one of the only developed countries to have preferential access to the world’s two largest markets – the European Union and the United States.
- Access to these markets’ 800 million+ affluent consumers will make Canadians the envy of trading nations all over the world.
- It will make Canada an even more attractive destination for investors and manufacturers, which will create jobs and opportunities for all Canadians.
Why an Agreement with the EU is Good for Canadians
The EU is the largest and most lucrative market in the world. With its 28 member states, 500 million people and annual economic activity of almost $17 trillion, it is bigger than the United States, our number one trading partner. With this agreement, the number of countries with which Canada has free trade agreements will triple from 14 to 42, providing Canada free-trade access to over half of the entire global marketplace.
For more information, visit: http://www.actionplan.gc.ca/en/news/ceta-aecg/canada-reaches-historic-trade-agreement-european
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