• Ελληνικά
  • English
  • Français

CANADA

The EU - Canada Comprehensive Economic and Trade Agreement (CETA)

Negotiations for CETA began in October 2009 and were concluded in August 2014. The European Commission published the consolidated text in September 2014, and negotiations were officially concluded on the occasion of the EU - Canada Summit (Ottawa, 26/9/2014), during which the consolidated text of the Agreement was signed by the two Chief Negotiators. The Comprehensive Economic and Trade Agreement (CETA) was signed at the bilateral Summit on 30.10.2016 (Brussels).

Two thirds of the Agreement are already under provisional application, and it will fully enter into force, when ratified by all Parliaments of the EU Member States. As for Canada, the ratification of the Agreement by the Parliament took place on 17.05.2017. So far, eight EU Member States have ratified the Agreement. Ratification by the Greek Parliament is still pending.

CETA is the first, of its kind, i.e. a Comprehensive Agreement with a partner of the economic and political magnitude of Canada, a fact of great significance for the foreign relations and trade of the EU and its member states. Its conclusion is expected to lead to an increase in trade between the contracting parties of almost 25%, by creating business opportunities for all member states.

Key points of the Agreement include the full elimination of customs duties on EU and Canada’s industrial and agricultural products. The EU is keeping beef and pork quotas, while Canada maintained quotas for dairy products. When it comes to public procurement, the opening of Canada’s market is provided, with the exception of shipbuilding. 145 European geographical indications, including 16 Greek ones, are protected by the agreement.

According to EU data, the expected annual economic benefit from the Free Trade Agreement between the EU and Canada (CETA) is estimated at 11,6 billion euros for the EU and 8,2 billion euros for Canada. Furthermore, the increase of EU’s exports to USA and Canada is expected to create new opportunities for EU businesses.

Under the present Agreement, and in the context of any EU Trade Agreement with a third country, Greece attaches particular importance to the enhanced protection of intellectual property rights, with emphasis on agricultural and processed products of Protected Designation of Origin (P.D.O.) and on Geographical Indications (G.I).