Canada and Europe: Creating jobs, growth and long-term prosperity

Canadians’ prosperity and standard of living is dependent on trade. Reaching beyond our

borders for economic opportunities that serve to grow Canada’s trade and investment is key to the prosperity of every hardworking Canadian. Trade has long been a powerful engine for Canada’s economy. It is even more so in these globally challenging economic times.

Canadian jobs and prosperity depend on the business we do with other countries. In fact, trade accounts for more than 60 percent of Canada’s annual income (gross domestic product) and for one in five Canadian jobs. The Government of Canada is committed to providing Canadian workers, businesses and investors with the tools, access and support they need to succeed in global markets.

Canada is now negotiating with the European Union a comprehensive economic and trade agreement (CETA). This is, by far, Canada’s most ambitious trade initiative, with the potential to produce even more benefits than the historic North American Free Trade Agreement (NAFTA). Since NAFTA came into effect, 4.5 million jobs have been created in Canada and our country’s annual income has risen by nearly $1 trillion.

Working to deliver a $12-billion boost to Canada’s annual income

The EU market—with 500 million people and annual economic activity of over $17 trillion—holds signifi-

cant opportunities for Canadian workers and busi-nesses. The EU is the world’s largest importing market for goods, more than 2.7 times larger than the United

international.gc.ca/CanadaEU

THE EUROPEAN UNION IS THE WORLD’S LARGEST SINGLE MARKET AND BIGGEST INVESTOR

Why a trade agreement with the European Union

would be good for Canada

OPENINGNEW MARKETSIN EUROPE

Union. The investment opportunities and the competi-tive edge of this combined access will directly lead to jobs, growth and long-term prosperity across Canada.

The negotiations with the European Union are the most transparent and collaborative trade negotiations Canada has ever conducted. From the beginning, provinces and territories have been active participants, and municipalities and stakeholders from across the country from a variety of sectors have been consulted regularly.

Federal, provincial and territorial governments have all recognized the benefits an agreement would bring to every region of Canada, stating, in a joint communiqué, “there is no more important Canadian trade negotiat-ing priority today than the Canada-European Union Comprehensive Economic and Trade Agreement.”

What Canadians say about a potential trade agreement with Europe

The conclusion of a CETA has the potential to help Canadian manufacturers and exporters diversify their sales into new export markets, increase their presence in Europe, and position Canada as a more attractive destination for manufacturing investment.

Jayson Myers, President and CEO Canadian Manufacturers and Exporters

Canadian small and medium-sized businesses have always favoured freer trading arrangements. They therefore welcome CETA as it will make it easier for these firms to take advantage of opportunities in the enormous European market. It is particularly appealing that the agreement will reduce paperwork and other costs that can be a major deterrent for small businesses.

Catherine Swift, President Canadian Federation of Independent Business

The Canadian Chamber has always been a strong supporter of a Canada-EU Comprehensive Economic Trade Agreement. A successful CETA will benefit

States. In fact, the European Union is already Canada’s second-largest trade and investment partner, behind only the United States. Canadian workers in every region in such sectors as fish and seafood, chemicals and plastics, technology, wood and wood products, advanced manufacturing, transporta-tion, agriculture, and renewable energy—to name just a few—will benefit from increased access to the lucrative EU market.

A study conducted jointly with the European Union before the launch of negotiations found that an ambitious agreement would boost Canada’s income by $12 billion annually and bilateral trade by 20 percent. That’s equivalent to creating 80,000 new jobs or increasing the average Canadian family’s income by $1,000!

A competitive edge for workers and businesses

Canada stands to be one of the only developed countries with preferential access to more than

800 million consumers in the world’s two largest economies—the United States and the European

Canadian businesses of all sizes and throughout the country. It will facilitate trade procedures, reduce technical barriers and send a clear message of support for open, rules-based global trade and investment.

Perrin Beatty, President and CEO Canadian Chamber of Commerce

Montréal is a dynamic world-class metropolis with strong aerospace, digital game, information technology and communications, and life sciences sectors. We are, without a doubt, well positioned to reap the benefits of a free trade agreement with the European Union as an attractive gateway to the North American market.

Gérald Tremblay, Mayor of Montréal and President, Communauté métropolitaine de Montréal

A Canada-EU trade agreement is vital to expanding markets for Canadian agriculture and food products. Canada exports half of its agri-food production. It is critical that we continue to identify new export opportunities for our high-quality products.

Kathleen Sullivan, Executive Director Canadian Agri-Food Trade Alliance

An ambitious trade agreement with the EU offers significant opportunities for producers, processors, workers and families whose livelihoods rely on Canada’s world-class agriculture industry by providing preferred access to the world’s largest importer of agricultural products. In 2011, the agriculture and agri-food sector accounted for more than 617,000 Canadian jobs.

This document may not be fully accessible. For an accessible version, please visit http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/eu-ue/ceta-brochure.aspx?lang=eng&view=d

The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, discusses the economic benefits of trade with employees at the Komtech Enterprises Ltd. facility in Pickering, Ontario. An ambitious Canada-EU trade agreement would result in significant benefits for workers and businesses across a variety of sectors of the Canadian economy.