The world’s largest free trade agreement will mean new opportunities for businesses, Premier Dwight Ball said in a news release.
“Newfoundland and Labrador’s business community relies heavily on trade and greater access to the European Union will create exciting possibilities for economic growth,” he said.
“Our government is a partner of business and we are fully committed to working with local companies to help them capitalize on new opportunities and support job creation.”
The deal immediately removes 98 per cent of all tariffs on Canadian goods. Tariffs will be reduced an additional one per cent over the next seven years.
“The EU is Canada’s second-largest trade and investment partner and for important Newfoundland and Labrador sectors including fish, agriculture and forestry, CETA offers significant new opportunities for growth and to move towards more value-added production,” Tourism, Culture, Industry and Innovation Minister Christopher Mitchelmore said.
“Our department is eager to work with businesses in our province to take advantage of these opportunities.”
The provincial government will lead a series of information sessions highlighting opportunities for businesses from CETA in the coming weeks.
