The European Union (EU) and Canada Customs Agreement, also known as the Comprehensive Economic and Trade Agreement (CETA), is a historic trade deal that was signed in October 2016. The agreement aims to create a free trade zone between Canada and the EU, which will boost economic growth and create jobs on both sides of the Atlantic.
One of the key benefits of the agreement is the elimination of tariffs on over 98% of goods traded between the EU and Canada. This will make it easier and more affordable for businesses to trade with each other, which will in turn increase economic activity and stimulate job creation.
The agreement also includes provisions to protect intellectual property rights, including trademarks and copyrights. This will help to prevent counterfeiting and piracy, which can have a negative impact on businesses and consumers alike.
Another important aspect of the EU-Canada Customs Agreement is its emphasis on environmental protection and sustainable development. The agreement includes provisions to promote sustainable development, as well as measures to prevent environmental degradation and promote the use of renewable energy sources.
Overall, the EU-Canada Customs Agreement represents a major step forward in trade relations between two important trading partners. It will create new opportunities for businesses on both sides of the Atlantic, while also helping to promote sustainable development and protect intellectual property rights. As the agreement continues to be implemented over the coming years, it is likely to have a significant impact on the global economy.