September 29, 2017

CETA: A historical opportunity for companies

The French Business Confederation (MEDEF) organized a seminar on the CETA (Comprehensive Economic and Trade Agreement) on September 29th at its Parisian premises. The free trade agreement concluded by Canada and the European Union has been effective since September 21st but still needs to be ratified by national and regional parliaments in Europe, including France.

This event gathered around 350 French enterprises around top-level representatives from France and Canada such as Mr. Pierre Marc Johnson, former Prime minister of Québec and CETA’s chief negotiator, Mr. Pierre Pettigrew, former Canadian minister and Mr. Jean-Baptiste Lemoyne, French Secretary of State in charge of the European and Foreign relations. “The government wants to show that it is clear: it won’t reconsider the French signature on this treaty”, declared Mr. Lemoyne in his speech.

He will lead a delegation of French companies in Canada this October to promote the agreement and help creating concrete opportunities for French and Canadian enterprises.

The road to conclude this agreement wasn’t without obstacles. The CETA remains a conflictual issue. However, the CETA represents a strong opportunity for European companies to increase trade relations between the EU and Canada. It is also a major success for the Europeans in the normative competition that currently occurs at the international level.

CETA sets new standards for global business. It is the first free trade agreement of this size that recognizes European Geographical Indications and that opens public markets on both sides. Companies have understood a long time ago that such an agreement could bring a lot of business opportunities. But still, French businesses need to be better informed on both the scope of the agreement and the obligations they now need to fit in, in order to take advantage of this new framework.

Source: MEDEF

September 21, 2017

BusinessEurope: Canada-EU business leaders – CETA implementation beneficial for all

Businesses across Canada and the European Union are welcoming the provisional implementation of the Canada-EU Comprehensive Economic and Trade Agreement (CETA).

A progressive free trade agreement that covers nearly all sectors and aspects of Canada-EU trade, CETA will benefit consumers, businesses and citizens by eliminating tariffs and non-tariff barriers, encouraging investment, opening procurement markets, recognising professional qualifications, and promoting sustainable development.

“This agreement is truly a game-changer,” said The Honourable John Manley, President and Chief Executive Officer of the Business Council of Canada. “Beginning today, companies of all sizes across Canada can take advantage of preferential access to the world’s second-largest market. For Canadians, this means enhanced opportunities, new jobs and increased business investment.”

When CETA is fully phased in, Canadians will save nearly USD 1 billion per year in tariffs on imported European goods, while Europeans will save €590 million per year. The agreement will encourage competition, give consumers expanded access to high-quality products, and allow companies to operate more efficiently.

“CETA is a land-mark deal that opens unprecedented opportunities for European companies”, said Markus J. Beyrer, Director General of BusinessEurope. “New and transparent rules on public procurement, workable rules of origin and the protection of intellectual property will make a real difference for businesses wishing to establish or expand their presence in Canada.”

CETA sets the standard for bilateral trade agreements, promoting trade and investment as well as ensuring sustainable development. It is the most progressive trade agreement ever negotiated by both parties, confirming the sovereign right of governments to regulate in the public interest and reinforcing strong environmental and labour protections.

Joint press release by BusinessEurope and Business Council of Canada

Source: BusinessEurope

September 21, 2017

CCC: Ushering in a new era of trade – CETA to open new opportunities for Canadian business

September 21, 2017 marks a historic moment for Canadian business as the world’s most modernized trade deal, the Canada-EU Comprehensive Economic and Trade Agreement (CETA), comes into force.

Once fully implemented, CETA will eliminate tariffs on more than 99 per cent of all goods that we trade to participating European nations. The progressive agreement will also break down barriers such as temporary travel restrictions and foreign investor risks, while addressing environmental protections.

Canadian business, especially, stands to benefit. CETA will not only open up investment and job creation opportunities here at home, it was also give Canadian businesses access to the world’s second largest market of more than 500,000 million people. One joint study by the European Commission and Government of Canada forecast the deal will inject more than USD 12 billion in new revenue into the Canadian economy and enhance bilateral trade by 20 per cent.

As owners seek to diversify their exports amid NAFTA negotiations and uncertainties south of the border, CETA offers Canadian companies new prospects abroad. It also ensures the European Union’s continued economic strength in the current economic context. Despite protectionist ideals that have risen around the globe, CETA is a testament to the power of free trade, setting a standard for future modernized agreements elsewhere in the world.

On both sides of the Atlantic, we can look forward to a more open, fair and modernized way of doing business today, and for many years to come.

Source: CCC