David Wilks, Member of Parliament for Kootenay-Columbia last week highlighted the benefits of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA).

“This historic agreement with the European Union is a big win for workers, businesses and families right here in British Columbia,” said Wilks. “Throughout the province, hard-working people of B.C. will benefit, especially in key sectors of our local economy.”

In addition to tariff elimination, CETA provides improved access to EU markets for Canadian goods and services, greater certainty, transparency and protection for investments, and new opportunities in EU procurement markets, noted a Conservative Government press release.

“CETA is an historic, 21st Century, gold-standard agreement that is the foundation of the most ambitious trade expansion plan in our nation’s history,” stated the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. “It is an agreement that will bring benefits to a wide range of sectors in every region of the country and is clear proof of our government’s commitment to opening new, large and dynamic markets to our exporters, workers and businesses.”

An earlier joint study concluded that CETA could bring a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. That is the equivalent of adding $1,000 to the average Canadian household’s income or 80,000 new jobs to the Canadian economy.

The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion. CETA is by far, Canada’s most ambitious trade initiative, broader and deeper in scope than the historic North American Free Trade Agreement (NAFTA).

Benefits of the Canada-EU trade agreement for British Columbia:  http://actionplan.gc.ca/en/page/ceta-aecg/benefits-british-columbia .

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