Saturday, November 21, 2020

Canada successfully concludes talks on transitional trade continuity agreement with the United Kingdom

On November 21, 2020, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, along with Elizabeth Truss, the United Kingdom’s Secretary of State for International Trade, announced the successful conclusion of talks for the Canada-United Kingdom Trade Continuity Agreement - an interim deal that will be in place as Canada and the United Kingdom work towards negotiating a comprehensive free trade agreement.

As CETA will no longer apply to the United Kingdom beginning January 1, 2021, this new agreement will provide continued access to the benefits of CETA on a bilateral basis, including the elimination of tariffs on 98% of Canadian products exported to the United Kingdom. This will provide a competitive edge to Canadian exporters and businesses who will maintain preferential access to the United Kingdom market, even as the country exits the EU.

This agreement is intended to provide stability and predictability for businesses, exporters, and workers in both Canada and the United Kingdom. Canada and the United Kingdom have long shared a profound and positive relationship, with a long history of working closely together.

No comments:

Post a Comment