Canada, EU head into round two of trade talks
AFP | 19 January 2010
Canada, EU head into round two of trade talks
OTTAWA — Canadian and European Union representatives are to meet this week in Brussels for a second round of free trade negotiations, Canada’s top trade official said Monday.
"Our government is pursuing an ambitious trade agenda, and negotiating an economic agreement with the EU is a priority," Trade Minister Stockwell Day said in a statement.
The European Union is already Canada’s second-largest trade and investment partner.
Canadian exports to the EU reached nearly 32.9 billion Canadian dollars (22.3 billion euros, 32.1 billion US) in the first three quarters of 2009, while imports of goods and services from the EU were close to 39.7 billion dollars (26.9 billion euro, 38.7 billion US).
Broadening Canada-EU trade ties could boost two-way trade by as much as 38 billion Canadian dollars (26 billion euro, 37 billion US), according to a joint economic study.
A first round of talks was held in October 2009. Day said "significant progress" had been made in areas such as goods and services, government procurement, regulatory cooperation and dispute settlement.
A free trade pact could further benefit Canada’s aerospace, chemicals, aluminum, wood products, fish and seafood, automotive vehicles and parts, agricultural products, transportation, engineering and computer services sectors, among others.
"There is no doubt that such an agreement represents tremendous opportunities for Canadian companies looking at expanding their activities in the European market," Day said.
After this round of talks in Brussels, the next one is scheduled for the week of April 19 in Ottawa. Additional rounds are planned for later in 2010.
