Minister Ng wraps up successful Joint Committee Meeting on Canada-European Union Comprehensive Economic and Trade Agreement

Throughout the COVID-19 pandemic, the Government of Canada has been committed to ensuring global supply chains are strong and resilient. It is more important than ever that the world works to advance an inclusive and sustainable economic recovery from the pandemic.

Yesterday, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, concluded a successful Comprehensive Economic and Trade Agreement (CETA) Joint Committee Meeting, in which Canadian and EU officials met virtually to discuss progress made under CETA. The Joint Committee is a part of Canada’s commitment to ensuring that CETA is achieving its full potential and delivering opportunities for businesses and entrepreneurs on both sides of the Atlantic.

Minister Ng opened the meeting by thanking the European Commission Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, for hosting the second CETA Joint Committee Meeting and by highlighting shared values and economic ties between Canada and the EU.

Minister Ng and Executive Vice-President Dombrovskis noted that, amid the challenges brought on by the COVID-19 pandemic, CETA continues to foster further trade between Canada and the EU. Minister Ng welcomed the progress the EU has made on removing trade barriers, including the EU’s recent implementation of the Protocol on Conformity Assessment, but she also raised concerns related to Canadian market access for agricultural products and asked that the EU address identified gaps in the transparency requirements of CETA’s temporary-entry provisions.

Minister Ng also emphasized the strength of the Canada-EU relationship in addressing the pandemic and the importance of ensuring that critical supply chains remain open and resilient—particularly, to ensure that there is equitable access to essential food, medicine and vaccines.

Canada and the EU released a Joint Statement outlining key areas of cooperation.

Quotes

“With CETA, we are demonstrating that trade agreements can support meaningful and sustainable economic growth. CETA has delivered on increasing trade with the EU, and our focus is now on eliminating unnecessary barriers to trade to ensure that the benefits of open, inclusive and rules-based trade can be shared more broadly in our societies.”

– Mary Ng, Minister of Small Business, Export Promotion and International Trade

Quick facts

• CETA has been providing Canadians and Europeans with preferential market access since September 2017, and all economically significant parts of the agreement are in force.
• Canada-EU bilateral merchandise trade in 2020 was 15.2% higher than in 2016, 1 year before CETA came into force. The utilization of CETA preferences continues to improve in both directions.
• In January 2021, 4 decisions related to CETA’s investment chapter were adopted, marking an important step toward ensuring the full functioning of CETA and the establishment of clear and rigorous ethical rules and transparency in the resolution of investment disputes. The decisions will come into force after all parties ratify CETA.