Free trade agreement between European Union and Canada compatible with EU law

From: Global Affairs Canada

Statement

April 30, 2019 – Ottawa, Ontario – Global Affairs Canada

Global Affairs Canada today issued the following statement:

“Canada welcomes the decision of the European Court of Justice, which confirms that the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) Investment Court System provisions are compatible with EU treaties.

“CETA provisionally entered into force on September 21, 2017. It helps create jobs, strengthen economic relations and bridge the gap between Canadian companies and the EU’s 510 million consumers. CETA brings real benefits to Canadians.

“CETA is one of Canada’s most ambitious trade initiatives, offering significant benefits to exporters. It is a free trade agreement that covers virtually all sectors and aspects of Canada-EU trade in order to eliminate or reduce barriers.

“Canada looks forward to the timely ratification of CETA by remaining EU member states. The numbers show that CETA is working on both sides of the Atlantic. In 2018, Canada’s merchandise exports to the EU were valued at nearly $44.5 billion, an increase of $2.9 billion (7%) over the year prior.

“This is one of several trade deals the Government of Canada has secured, with over 50 countries, giving Canadian businesses access to 1.5 billion customers.”

/Public Release. View in full here.