(S,P) Read a summary of the agreement and download interpretative guidance for rules of origin (P)
This series has three parts:
Part 3: Summary of the CETA agreement (S,P) + Download Rules of Origin and Interpretative Guidance (P)
Blog articles followed by S require a Starter Premium Support Plan subscription to access, blog entries followed by P require a Premium Support Plan subscription to access.
The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is a bilateral agreement between Canada and the EU. The agreement covers virtually all sectors and aspects of Canada-EU trade in order to eliminate or reduce barriers.
Why CETA matters
CETA represents the best in international trade agreements. CETA sets new standards for trade in goods and services, non-tariff barriers, investment, government procurement, and other areas like labour and the environment.
The EU is one of the largest economies in the world and Canada’s second-largest trading partner after the United States. It is also the world’s second-largest importing market for goods. The EU’s annual imports alone are worth more than Canada’s GDP. By opening new markets in the EU to Canadian exporters, CETA gives us a competitive advantage in the global market, which benefits all Canadians.
CETA is helping to create jobs, strengthen economic relations and boost Canada’s trade with the world’s second-largest market.
What CETA covers
CETA covers virtually all sectors and aspects of Canada-EU trade in order to eliminate or reduce barriers:
Trade in goods: CETA eliminates tariffs and reduces barriers for virtually all sectors and aspects of Canada-EU trade.
Rules of origin: Canadian exporters have clear and favourable rules that consider the EU's and Canada’s supply chains to determine which products are considered originating and therefore eligible for preferential tariff treatment.
Customs and trade facilitation: Canada and the EU are working to keep customs procedures simple, effective, clear and predictable. This reduces processing times at the border and makes it easier to move goods between countries.
Regulatory cooperation and conformity assessment: CETA helps avoid unnecessary or discriminatory regulatory requirements. Canadian and EU regulators are collaborating to create regulatory measures that make it easier for Canadians to do business in the EU and vice versa.
Government procurement: Canadian and EU companies can bid on opportunities at all levels of government in the EU or Canada.
Trade in services and labour mobility: CETA provides EU and Canadian service providers with more business opportunities in Canada and the EU and makes it easier for certain skilled professionals to work temporarily in Canada and the EU.
Investment: Investment provisions in CETA are designed to give investors greater certainty, stability and protection for their investments and to provide access to an independent dispute resolution mechanism.
Sustainable development, labour and the environment: CETA includes clear commitments to uphold the EU's and Canada’s high standards and not to undermine them for commercial gain. Clear language confirms the right to regulate for all levels of government.
What it means for Canadian and EU businesses
Here’s how CETA helps businesses across Canada:
Competitiveness: Gives Canadian and EU businesses preferential access to one of the largest economies in the world.
Access to new clients: Allows Canadian and EU businesses to supply goods and services to all levels of EU and Canadian governments. It also offers new opportunities with regional and local governments.
Market transparency and stability: Sets requirements for product standards, investment, professional certification and other areas of activity. It also includes labour rights and environmental protection.
Reduced barriers to trade: Makes it easier to move goods across borders and for business people to get to the right place at the right time to pursue opportunities.
Summary of the agreement
Full CETA Trade Agreement
Press Release 2020 - Three Years on
Press Release 2021 - Four Years on
Download Interpretative Guidelines on Rules of Origin
(P) These are essential for businesses to assess if they meet the Rules of Origin which allow goods to benefit from preferential duties.
Helpline
About Customs Manager Ltd.
Working with us means having a Customs Advisor, Global Trade Expert and Export Controls Consultant, on speed-dial. If you are looking for a customs consultant UK and EU, let us help you trade effectively, efficiently and, of course, compliantly, wherever you want to go in the world.
Need to stay up-to-date with changing customs and global trade rules? We monitor legislation so our clients don't have to. Learn about all changes in our fresh expert blog, join exclusive briefings and ask any questions 24/7 through to the VIP hotline. Or sign up to our no-charge, insightful newsletter.
Entrust us with your training needs and help us to upskill you and your teams in English, German, French and Spanish. We offer pubic and private live, in-house and on-demand (study from anywhere and anytime) courses.
To complete our support for globally trading businesses, we are also a UK Customs Broker. We act as a customs clearance agent on behalf of many EU and UK businesses, assisting with customs documentation and all other formalities to ensure the customs clearance of our goods. Whether you’re seeking a long-term partner to look after your customs clearance or require support for a one-off shipment, please don’t hesitate to get in touch to discuss your requirements.
Join us on social media
· YouTube
· LEAVE us a POSITIVE REVIEW ON GOOGLE
Important Notice
Customs Manager Ltd. owns the copyright in this information, unless other sources are identified.
You are not allowed to use this information in any way that infringes the intellectual property rights in it. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Premium subscriber to the Customs Managers’ Trade Intelligence service. As a Premium subscriber, you may download and print this information which you may then use, copy or reproduce for your own internal non-profit-making purposes.
However, under no circumstances are you permitted to use, copy or reproduce this information to profit or gain.
In addition, you must not sell or distribute this information to third parties who are not members of your organization, whether for monetary payment or otherwise.
This information is intended to serve as general guidance only and does not constitute legal advice. We cannot guarantee the quality, content, or accuracy of the information provided on this page as laws and information change regularly. Moreover, the application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking any action, you should consult a Customs Manager Ltd. professional.
In no circumstances will Customs Manager Ltd, be liable for any decision made or action was taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.
Comments