OTTAWA, Aug. 5, 2014 /CNW/ - The Canadian Chamber of Commerce welcomes
news that Canada and the European Union have now completed the final
text of the Comprehensive Economic and Trade Agreement (CETA). This
latest milestone follows an agreement-in-principle announced in October
"Today is an important step on the path towards free trade with Europe.
By reducing trade barriers with the world's largest economy, CETA will
bring more opportunities for exporters, lower prices for consumers and
new investments to Canada," said Perrin Beatty, President and CEO of
the Canadian Chamber of Commerce.
The agreement will eliminate the vast majority of tariffs, expand
quotas, open up markets for services and government procurement,
improve trade facilitation and customs services, encourage regulatory
cooperation and protect investments and intellectual property.
"Political leaders and negotiating teams from both countries should be
congratulated for their sustained efforts and resolve in the face of
very challenging issues and timelines. But, there's still a lot of work
ahead to put CETA into effect," added Mr. Beatty.
In Canada, both the federal and provincial governments will need to
amend or pass new legislation to implement the provisions of the
agreement. In Europe, approval is required from the European Council
"To get through the next phase, policymakers will need to continue to
exert the leadership that got us to where we are today. We look forward
to working with them and our membership to make sure the opportunities
opened up by this agreement are fully realized," said Mr. Beatty.
The Canadian Chamber of Commerce is the vital connection between
business and the federal government. It helps shape public policy and
decision-making to the benefit of businesses, communities and families
across Canada with a network of over 450 chambers of commerce and
boards of trade, representing some 200, 000 businesses of all sizes in
all sectors of the economy and in all regions. News and information are
available at Chamber.ca or follow us on Twitter @CdnChamberofCom.
SOURCE: Canadian Chamber of Commerce
For further information:
Director, International Policy
Office: 613.238.4000 (230)