The deal will also:
- cut duties on 92% of food and drink products
including beef, cheese and marmalade to zero
- allow zero tariffs on spirits including gin, vodka
and whiskies
- eliminate nearly all tariffs on manufactured products
such as cars
The UK is Canada’s second largest provider of service
imports and CETA will
mean that even more British ingenuity and expertise will
support Canadian public projects, as UK firms are now
able to bid for contracts in areas such as finance, cyber
and engineering.
International Trade Secretary, , said:
CETA opens
the door for UK companies to trade easily and cheaply
with a valuable market in which there is considerable
demand for British products, skills and expertise.
It is also an important blueprint for what our future
trading relationship with Canada could look like. As an
international economic department, we will help UK
companies to make the most of this boost to bilateral
trade and lay solid foundations for our trading ties
with Canada.
Canadian Minister of International Trade,
François-Philippe Champagne, said:
CETA sets
new and progressive standards for all trading nations.
As long standing trading partners, Canada and the UK,
remain steadfast in their joint commitment to the
benefits of global free trade. I am confident that
with CETA,
we have set the stage for exciting opportunities for
British and Canadian companies alike.
The UK exported more than £7 billion worth of goods and
services to Canada in 2015 and this new deal allows
British businesses to take further advantage of this.
The UK is Canada’s sixth largest source of goods imports
and second largest source of service
imports. DIT is
helping UK companies make the most of the
opportunities CETA brings
and wants British firms to seize upon the chance to boost
business in Canada.
