CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. UK Pushes For Canada-EU FTA Conclusion

UK Pushes For Canada-EU FTA Conclusion

by Robert Lee, Tax-News.com, London

31 March 2014


UK Trade Minister Lord Livingston has called for a speedy conclusion to a planned trade agreement between the European Union (EU) and Canada, which could benefit UK firms by up to GBP1.3bn (USD2.2bn) a year.

Speaking during a trade mission to Canada, Livingston said that the deal "has real potential to create growth and jobs in both countries." The UK is currently Canada's top trading partner within the EU, and its second largest trade and investment partner after the US. The UK exported GBP4.2bn worth of goods to Canada in 2012, and GBP3.9bn in services.

Last October, the Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso announced that an agreement in principle had been reached on the core elements of the EU-Canada Comprehensive Economic and Trade Agreement (CETA). The Canadian Government anticipates a CAD12bn (USD10.9bn) boost to its economy.

Negotiations are ongoing to finalize the CETA's terms. The EU is expected to liberalize its tariff treatment of non-agricultural products, while certain sensitive food products will receive significantly increased quota amounts. The deal will also provide locked in access to EU procurement and services markets.

During his visit, Livingston will sign a joint statement of cooperation in trade and investment with British Columbia's International Trade Minister Teresa Wat. The UK and Canada will share information on strategies and programs to maximize trade and investment and grow business links, through trade missions, business networking events, and promoting joint ventures.

TAGS: tax | investment | business | free trade agreement (FTA) | tariffs | trade treaty | United Kingdom | food | agreements | Canada | trade | European Union (EU) | services | Europe

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »