After many long years of negotiation, the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union was finally implemented on Thursday, September 21, 2017. While the deal is technically only implemented on a provisional basis, the agreement already eliminates 98% of existing tariffs on goods and services sold between Canada and the EU.
There’s been a lot of excitement around this major milestone on both sides of the Atlantic. You may be wondering, though, how exactly the implementation of this deal will affect businesses in both regions.
Thankfully, the EU International Trade Department has created a series of helpful infographics detailing the benefits of CETA for several specific industries, and shared them via their Twitter account, @Trade_EU. Take a look!
????Thread: 1. It’s #CETA Day! Now the EU-Canada trade deal starts, helping EU firms export ?➡️?& create jobs ?????https://t.co/uNoPR5vgY4 pic.twitter.com/ydB2wnacoW
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 2. #CETA will save EU businesses – like small wine producers in Austria – up to €590m/year in customs duties ?https://t.co/5CHcFd7tKq pic.twitter.com/NiNFRxdNXW
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 3. Thanks to #CETA EU cheesemakers can export 18 500 tons each year tariff-free – twice as much as before ?????https://t.co/5CHcFd7tKq pic.twitter.com/KZRFNGJq2x
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 4. #CETA‘s the tariff beater. It slashes Canadian import tariffs on EU cars & trucks ??from 9.5% to 0% ?✂️????https://t.co/pD5zb28OXU pic.twitter.com/qkqthsqmRb
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 5. #CETA‘s the tariff beater ?✂️On EU-made clothing ?? it cuts Canadian import duties from up to 16% to 0% ??https://t.co/pD5zb2qqmu pic.twitter.com/nyhKWTb4Ub
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 6. #CETA – the tariff beater. It’s cut Canadian import tariffs on furniture ?️?️ from the EU from 8% to 0% ??https://t.co/pD5zb2qqmu pic.twitter.com/uqyQHHIA82
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 7. #CETA – tariff beater ?✂️Canadian import tariffs on EU chocolate ? were up to 10%. Now they’re scrapped ??https://t.co/pD5zb2qqmu pic.twitter.com/aYMoORP0hk
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 8. #CETA‘s the tariff beater. Before, Canadian customs charged 12.5% on jam ?? from the EU. Now – nothing. ????https://t.co/pD5zb2qqmu pic.twitter.com/0MPEnlGcxO
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 9. #CETA is a progressive agreement. Both sides pledge to uphold labour rights & protect the environment ????https://t.co/7dVCRSWQxC pic.twitter.com/bkO1nlpK2p
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 10. #CETA comes with 6 key safeguards ?. They protect EU public services, food safety standards & more ??✅ ??https://t.co/rTba7UZAz2 pic.twitter.com/tfvpNh8YYt
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 11. With #CETA the EU & Canada are forging even closer ties?, & helping shape globalisation so all benefit ????https://t.co/p53gFJONdS pic.twitter.com/Ore4cQKqlm
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 12. #CETA protects 143 flagship EU hams, cheeses & other food & drink products from imitations in Canada ??????https://t.co/046c5Am3lf pic.twitter.com/nuXCMhUYJa
— EU Trade ?? (@Trade_EU) September 21, 2017
????13. ?#CETA means new opportunities in Canada for EU services firms, from finance to telecoms. ??✅ Details here: https://t.co/bGdvpP9vv1 pic.twitter.com/s8duhHyMfR
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 14. With ?#CETA, EU firms can bid for more public contracts in Canada – federal, provincial & municipal ??️?️ ?https://t.co/bGdvpP9vv1 pic.twitter.com/tNt3D9ZIQi
— EU Trade ?? (@Trade_EU) September 21, 2017
???? 15. ?#CETA cuts tariffs & eases trade barriers ??, so small ?? firms like these can export more easily to ?? ??https://t.co/5CHcFd7tKq pic.twitter.com/pZBBevlxS6
— EU Trade ?? (@Trade_EU) September 21, 2017
Let us know what you’re most excited about with CETA’s implementation, and please feel free to add any other helpful information or stats in the comments below!
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