What is CETA?
The Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (EU) is Canada's biggest bilateral trade initiative since NAFTA. Comprising 28 Member States, with a total population of over 500 million and a GDP of over C$19 trillion last year, the EU is the world’s largest single market, foreign investor and trader. Canada and the EU have a long history of economic cooperation. CETA will create significant new markets and opportunities for Canadian businesses, and it will also leave some facing competitive threat from new entrants into the Canadian market. It is therefore important that businesses understand how the agreement will affect them, the laws and regulations that will be changed because of the agreement, and, where necessary, seek the counsel of legal experts who will help them take full advantage of the opportunities, while protecting themselves from the risks.
CETA will include new rules, and a new competitive environment, in virtually every area of the economy, including:
- Trade in Goods
- Trade in Services including financial services
- Government Procurement / Public Procurement
- Investor Protection
- Intellectual Property including the pharmaceutical industry
- Competition Policy
- Electronic Commerce
- Food and product standards
Businesses interested in breaking into the EU market, partnering in Canada with European businesses, or concerned about competition from new European entrants into the Canadian market, should keep informed of all developments as the parties work to complementing and implementing the agreement.
Fasken's CETA Resources
Fasken lawyers are watching developments closely, including the all-important legal implementation process, and reporting to our clients and friends with regular analysis, insights and updates as we move towards completion of all the steps necessary to bring the CETA into force.