The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, advanced Canada's trade priorities today during the fourth Joint Committee Meeting of the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which she co-chaired with Valdis Dombrovskis, Executive Vice-President of the European Commission.
In a bilateral meeting with Dombrovskis, Minister Ng discussed ways to build on the success of CETA and the Canada-EU Summit, held in St. John's, Newfoundland and Labrador, in November 2023. They agreed to continue working closely together to make rules-based trade and international cooperation a top priority. Minister Ng further noted Canada's commitment to contribute to a successful World Trade Organization 13th Ministerial Conference. She underscored the importance of maintaining stability and laying the groundwork for constructive future discussions on issues such as WTO reform. Finally, Minister Ng reiterated Canada's commitment to Ukraine's long-term economic recovery.
At the Joint Committee Meeting, officials reported on the clear benefits of CETA for both Canada and EU member states over the last 7 years. CETA, as the heart of the Canada-EU economic, trade and investment relationship, has advanced diversification in key industrial, service and investment sectors and supply chains. CETA has also led to greater cooperation in priority areas, including the environment, critical minerals and regulations.
The Joint Committee Meeting concluded the meeting by outlining the path forward and 4 key achievements since the committee last met:
- the committee announced in a joint statement that Canada and the EU had reached agreement on an Interpretation on Investment which adds more clarity for the investors in terms of investment provisions under CETA
- The Joint Committee announced the conclusion of negotiations at the technical level on text establishing rules to facilitate access of small and medium-sized enterprises (SMEs) to investment dispute resolution under CETA, which will enhance the ability of SMEs to participate and benefit from the opportunities created by CETA
- The committee welcomed progress toward the adoption of a mutual recognition agreement for professional architects. The agreement builds on CETA's benefits for professionals and small businesses, as it will facilitate the process of seeking recognition for professional qualifications across the EU and Canada for their respective architects
- The Joint Committee welcomed progress on CETA's protocol regarding good manufacturing practices for pharmaceutical products, which will contribute to greater supply chain resilience for medical drugs in Canada and the EU.
