The Comprehensive Economic and Trade Agreement (CETA) is a recently signed free-trade agreement between Canada and the Europea Union When implemented, the agreement will eliminate 98% of the tariffs between Canada and the EU.
The negotiations were concluded in August 2014. All 28 European Union nations have approved CETA with Belgium being the final country to approve. Currently CETA is awaiting signing. The European Council has confirmed it has adopted the decision to sign.Justin Trudeau, Prime Minister of Canada traveled to Brussels on 30 October 2016 to sign on behalf of Canada.
The EU claims the treaty will lead to savings of just over half a billion euros in taxes for EU exporters every year, mutual recognition in regulated professions such as architects, accountants and engineers, and easier transfers of company staff and other professionals between the EU and Canada. The European Commission claims CETA will create a more level playing field between Canada and the EU on intellectual property rights.
