OTTAWA – November 1, 2016 – On Sunday, Canada and the European Union signed a free trade agreement aimed at boosting trade and generating growth. The Comprehensive Economic and Trade Agreement (CETA) will enable Ottawa companies to export to the EU like never before as 98 per cent of tariff lines will be eliminated right away on goods that originate in Canada, a further one per cent will be eliminated over a period of up to seven years. This represents a significant competitive advantage for Ottawa companies over exporters still facing EU tariffs.

Although the United States is still Canada's largest trading partner, the CETA agreement will give Canadians a much needed exporting boost in Europe that will ultimately stimulate investment opportunities. “While the States will always be an important trade partner for Canada,” said Blair Patacairk, Managing Director, Investment and Trade for Invest Ottawa, “CETA provides the opportunity for our companies to expand or create new markets in the EU. We have always considered the EU a priority market for our outbound investment attraction and trade activities and CETA will expand our value proposition.”

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