Canada makes historic trade agreement

October 25, 2013

When you’re considering immigrating to another country, you’ll want to know that your new home offers plenty of opportunities for employment and that the economy is strong. Now, businesses in Canada are likely to see a boost due to a new deal the Harper Government has reached with the European Union. The agreement has been described as “historic” by the government.

The deal was reached between the Canadian Prime Minister Stephen Harper and European Commission President José Manuel Barroso during a meeting that was held last week.

It is hoped that the new deal will lead to more employment opportunities and an increase in income for families in Canada. It is believed that as many as 80,000 jobs will be created because of the new deal.

Canada has reached a trade agreement with the EU. And so, EU which is a block of advanced and wealthy countries whose market will now be open/accessible to Canada thanks to the historic agreement reached between these two blocks. The envoy of Canada, Honourable Diane Finley stated that thanks to this agreement reached between them, both the trading blocks will benefit immensely. Canada’s every industrial sector and province and especially some among them will be the direct benefit beneficiaries. Thus, for example, Southwestern Ontario, and the sectors of advanced manufacturing, ICT and agricultural industries in that region will benefit directly. The envoy also stated that with this historic agreement, Canada will be the only country to have ‘preferential access’ to two of the most affluent and numerous populations segments in the world. One other gain, according to her is that Canada will now be much more sought after as a place for investment by investors, manufacturers, etc. thus creating innumerable new jobs and opportunities for those living and working in Canada.

The benefits of the deal are wide ranging. The agreement means that Canada will have preferred access to the European market and tariffs will be eliminated on many of the key products that Canada exports. The deal will also mean that new markets will open up for Canada, increasing trade for local companies and improving employment opportunities for Canadians and immigrants alike.

Ontario, Nova Scotia and Prince Edward Island are the most likely to benefit from the new trade arrangement.

Commenting on the positive impact the Canadian-EU agreement will have on Prince Edward Island, the Honourable Ed Fast, said:

The announcement is yet more good news for the Canadian economy; efforts are continuing to help boost trading opportunities in Canada and to support small business, making Canada a thriving country for the people residing there.

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