Free trade deal between EU, Canada produces win-win results

Canada prime minister Justin Trudeau.

Brussels, (Samajweekly) The Comprehensive Economic and Trade Agreement (CETA), a free trade deal between the European Union (EU) and Canada, has helped the two sides in boosting trade and jobs over the past three-odd years, it was announced.

European Council President Charles Michel and European Commission President Ursula Von der Leyen held their first video conference, with Canadian Prime Minister Justin Trudeau since the pair assumed their roles to lead the pan-Europe bloc in late 2019, reports Xinhua news agency.

Michel said the trade agreement, signed in October 2016 and taking effect in September 2017, has had trade increased by 24 per cent for goods and 25 per cent for services compared to pre-CETA levels.

According to Trudeau, exports from Canada towards the EU grew by 20 per cent and CETA has “created good jobs on both sides of the Atlantic” as well.

During the summit, the leaders discussed the roles that CETA can play in the economic recovery from the health crisis, both in Canada and the EU, in an eco-friendly way by fostering the creation of green jobs.

The trio agreed to hold the next EU-Canada summit when conditions allow.

The last meeting between the two sides took place in July 2019 in Canada’s Montreal.