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CETA: Canada’s economic power play in the global arena

Published by Stephanie Brooks on October 18, 2013

BRUSSELS – The Comprehensive Economic and Trade Agreement (CETA) concluded today will open up a new world of opportunity for Canadians from coast-to-coast, according to Canadian Manufacturers & Exporters (CME), the country's largest trade and industry association.

"This is the Wayne Gretzky of trade deals," says CME President and CEO Jayson Myers, during the official signing of the deal in Belgium. "This landmark agreement gives Canada a competitive advantage over other leading nations around the globe, providing us with preferential access to the world's largest economy. CETA is our economic power play in the global arena."

As the lead industry association supporting its ambitious and comprehensive conclusion, CME helped secure chapters critical to its members, including guaranteed access to sub-national and national procurement markets, easier access for business travellers, and regulatory alignment to eliminate non-tariff barriers, where possible. These changes will mean more value-added goods should be exported.

With unparalleled access to a market of 500 million people, generating approximately $17 trillion in economic activity a year, Canada is strategically positioned to be a global economic powerhouse as the only G8 nation to have access to the world's two largest markets.

"CETA represents a whole new world of opportunity for Canadian companies from coast-to-coast. We've just built a symbolic bridge over the pond," Myers adds. "CETA will open up markets for small businesses looking to export goods and services, invest, and those who want to commercialize new technologies." It will create jobs and generate wealth for Canadians, in addition to setting the standard for trade agreements in the future.

"The modest economic analysis of CETA indicates that this will create 80,000 new jobs for Canadians," says Myers. "Put another way, that represents a boost in bilateral trade by 20 per cent and an injection of $12 billion into the Canadian economy on an annual basis."

Click here to view a recent letter sent to provincial premiers on CETA.

For more information, contact:

Jeff Brownlee
VP of Public Affairs and Business Development
Canadian Manufacturers & Exporters (CME)
E-mail: jeff.brownlee@cme-mec.ca
Phone: 613-762-7545

 

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