CETA comes into effect today. What that means for your business.
Sep 21, 2017 11:36:55 AM
With growing uncertainty around the trade implications from Brexit and potential “America First” policies, the EU – Canada Comprehensive Economic and Trade Agreement (CETA) could not have come at a more opportune time. On September 21, 2017, CETA takes effect across Canada and the EU.
CETA doesn’t just remove customs duties between the EU and Canada, it provides incredible potential for export growth into a new market. At the Irish Exporters Association’s National Export Hub Seminar, Bernard McCarthy, Managing Director of DHL Express, noted that 28% of Ireland’s exports are to North America, with the US at 27% and Canada only accounting for less than 1%. This statistic alone shows the potential Irish exporters have in the Canadian market.
CETA will do more than just remove customs duties from 99% of all tariff codes into Canada, some benefits include:
removes customs duties from 99% of products
making it easier to bid for contracts in Canada's government
eliminates expensive double testing is some areas
strengthens copyright protection
ensures copies of traditional, protected European food and drink products aren't sold as the genuine article.
Now is an excellent time to see how CETA can benefit your export business.
For more information on how to optimise your supply chain, chat with us today