The Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA) is a progressive and inclusive trade agreement that will benefit people on both sides of the Atlantic. For Canadians, CETA will provide a wide range of opportunities by eliminating or reducing trade barriers between Canada and the EU.
Canada and the EU must pass legislation and make required regulatory changes through their respective processes, before the application of CETA can begin. Once passed, virtually all of the economically significant parts of the agreement – including tariffs, quotas, service commitments, temporary entry commitments and government procurement obligations – will be applied and businesses will be able to take advantage of the economic benefits.
The remaining elements of CETA, including provisions related to investment protection and dispute resolution, will be applied once all EU member states have ratified the Agreement, and it is fully brought into force in Canada and the EU.
The Strategic Partnership Agreement (SPA) is a bilateral cooperation agreement between Canada and the EU, and will mark a new step in strengthening our already strong relationship. Along with CETA, the SPA reaffirms our collective commitment to the principles and values of open economies and societies. Once ratified, the SPA will represent the new foundation upon which Canada-EU cooperation will be based, and the mechanism through which Canada will formally engage the EU on significant issues of common interest. The SPA was signed by Canada and the EU on October 30, 2016, and it will now go through our respective Parliamentary approval processes.