CETA Comes into Effect – Business to Benefit

NetNewsLedger Business Report

NICKEL BELT/GREATER SUDBURY – Marc Serré, Member of Parliament for Nickel Belt, is pleased that the provisional application of 98% of the Canada—European Union Comprehensive Economic and Trade Agreement (CETA) came into effect on September 21, 2017.

“CETA shows the world that with ambition, hard work, and the will to get things done, mutually-beneficial trade agreements are possible. CETA will greatly benefit the small and medium sized companies that drive economic growth in Canada and create jobs for the middle class, including here in Nickel Belt, Greater Sudbury, and throughout Northern Ontario. New exporters looking to enter the European market, and those companies that already have experience in the EU, now enjoy tariff reductions, new opportunities to win government contracts, and improved access to provide services, which is something we can all celebrate,” states Marc Serré.

According to Global Affairs Canada, prior to CETA’s entry into force, only 25 percent of EU tariff lines on Canadian goods were duty-free. Today, the day that CETA enters into force, 98 percent of EU tariff lines are now duty-free for Canadian goods, and an additional one percent will be eliminated over a seven-year phase out period. Ontario exports on average more than $12B in metal and mineral products to the EU every year, the majority of which come from Northern Ontario. Any reduction in trade barriers will only increase the opportunities Ontario’s mining companies have to get their resources to market. “As a member of Parliament representing Northern Ontario, and as a Member of the Standing Committee on Natural Resources, I know many business leaders in the mining industry are excited about this historic agreement and the new markets it opens up,” “said Serré.

CETA will address regulatory barriers and ensure greater harmonization going forward. Regulatory differences create significant barriers to trade, and greater harmonization will not only allow Northern Ontario’s businesses to reach more markets, but will encourage greater investment in our communities and encourage job growth. Attracting this investment is key at a time commodity prices remain low and labour force participation is declining.

Other CETA benefits include:

Cutting red tape: Wherever possible, customs procedures will be simple, effective, clear and predictable so as to reduce processing times at the border and make the movement of goods cheaper, faster and more efficient.

Reducing barriers to trade: CETA will allow Canadian producers to have certain products tested and certified, for EU markets, right here in Canada. This will reduce testing and certification costs and delays for manufacturers.

Providing access to public contracts at all levels: CETA expands and secures opportunities for Canadian firms to supply goods and services to all levels of the EU governments including the EU member state governments, regional and local governments and an array of entities operating in the utilities sectors.

Improving access for trade in services: CETA gives Canadian service providers the best market access the EU has ever granted.

Improving labour mobility: CETA will make it easier for certain skilled professionals and businesspeople to work temporarily in the EU and it establishes a streamlined process for the recognition of professional qualifications.

Promoting and protecting investment: CETA will give investors greater certainty, stability and protection for their investments.

“We are pleased to see CETA enter into force. This is an important step forward for Northern Ontario’s business community. Northern Ontario is a global leader in the mining sector and CETA will allow our businesses to reach European markets. By harmonizing regulations and creating opportunities for growth and investment, CETA is a major step forward for the Northern Ontario economy,” says Michael Macnamara, Chair of the Board, Greater Sudbury Chamber of Commerce.

“CETA provides another window of opportunity for the sophisticated mining intelligence that resides in innovative companies situated in Northern Ontario. The mining supply and service industry is always looking at building a working relationship globally. CETA is another positive instrument in increasing this important international avenue to new markets,” according to Dick DeStefano, Executive Director, Sudbury Area Mining Supply and Service Association (SAMSSA).

To learn more about CETA, please visit Global Affairs Canada’s CETA website at : www.international.gc.ca/CETA

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