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What is CETA?
The Canada-European Union Comprehensive Economic Trade Agreement (CETA) is a new free trade agreement that came into effect on September 21, 2017. CETA addresses all aspects of the trading relationship, including goods, services, investment, government procurement and regulatory co-operation.
Throughout the negotiation process, CFIB has ensured that small business interests were kept front and center for both Canadian and European policy makers, focused on reducing the top barriers for SMEs looking to trade with Europe, including red tape. We’ve been able to participate in discussions both at home and overseas.
What CETA means for your business
The European Union (EU) is the world’s second-largest economy and Canada’s second largest-trading partner after the United States. The EU is an opportunity for small businesses looking for new trade opportunities amid the uncertainties around renegotiations on the North American Free Trade Agreement (NAFTA).
Here are six ways that CETA will make it easier to do business in the EU:
CETA will also allow businesses in certain sectors to have products tested and certified in Canada before exporting them to the EU, which will save you both time and money!
If your business exports certain products, including fish and seafood, grains and beef, you will be better able to compete when selling to European consumers. It will also be less expensive for Canadian companies to import certain European products.
How you can start trading with the EU
Check out the new Canada Tariff Finder, an online tool that can help you find the Harmonized System codes for products and the corresponding EU preferential tariff rate.
Not a member yet? Join CFIB today for more help and information.