EU Canada Trade Agreement Update

January 2017

The Comprehensive Economic and Trade Agreement (CETA) between Canada, of the one part, and the European Union and its Member States, of the other part, which was signed on 30 October 2016, has now been published in full.  The EU Canada Trade Agreement establishes a free trade area between the parties.  Tariffs will be phased out on a schedule starting with 87.5% of the full duty in year 1, and completing in year 8 with 0% duty.  Only goods originating in Canada or in the EU in accordance to the Protocol on Rules of Origin and Origin Procedures attached to this Agreement will benefit from the duty rate reduction.

The date of implementation of the Agreement is yet to be announced.  However, the International Trade Committee of the European Parliament is scheduled to hold its final consent vote on 24 January 2017, and the Plenary vote is expected mid February.

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