December 1, 2008
No. 231
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today tabled legislation in Parliament to implement Canada’s free trade agreement (FTA) with the states of the European Free Trade Association (EFTA) (Iceland, Liechtenstein, Norway and Switzerland). It is Canada’s first such agreement with European countries.
“In a time of global economic instability, free trade is more important than ever. Canada already exports more than $5 billion per year to EFTA countries, and that figure will grow under this agreement,” said Minister Day. “The agreement demonstrates that our government is taking action to help create opportunities in the international marketplace. It will benefit Canadian businesses by reducing barriers to trade. At the same time, Canadian consumers will have access to a more affordable and diverse selection of goods from EFTA countries.”
The Canada-EFTA FTA provides for the elimination of tariffs in all non-agricultural sectors including aluminum and cosmetics, prefabricated buildings, coldwater shrimp and apparel products.
It will also provide for the elimination or reduction of tariffs on selected Canadian agricultural and agri-food products such as durum wheat, frozen blueberries, frozen french fries, beer and Canadian crude canola oil.
The Government of Canada held extensive consultations with stakeholders throughout the negotiation of the agreement to ensure that their interests and concerns were taken into account.
The Canada-EFTA FTA is part of Canada’s Global Commerce Strategy, which aims to advance Canada’s commercial interests in key markets through an ambitious free trade agenda. For more information on the strategy, please visit: www.international.gc.ca/commerce/strategy-strategie/index.aspx?lang=en.
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A backgrounder follows.
For further information, media representatives may contact:
Mélisa Leclerc
Director of Communications
Office of the Minister of International Trade and Minister for the Asia-Pacific Gateway
613-992-6186
Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000
www.international.gc.ca/index.aspx
Backgrounder
Canada Tables Legislation to Implement Free Trade Agreement with the European Free Trade Association
Canada and the European Free Trade Association (EFTA) countries of Iceland, Liechtenstein, Norway and Switzerland signed a free trade agreement (FTA) on January 26, 2008, in Davos, Switzerland. The agreement will create greater trading opportunities for all parties by eliminating or reducing tariffs on a range of goods and agricultural products. The negotiations were launched in 1998 and concluded in June 2007.
Highlights of the Agreement
The Canada-EFTA FTA provides for:
• the elimination of tariffs in all non-agricultural sectors including aluminum and cosmetics, prefabricated buildings, coldwater shrimp and apparel products;
• the elimination or reduction of tariffs on selected Canadian agricultural and agri-food products such as durum wheat, frozen french fries, beer and Canadian crude canola oil; and
• duty-free access to Canadian and EFTA markets for most industrial goods, fish and other marine products.
The agreement also contains provisions on subsidies, anti-dumping, state-trading enterprises and public procurement in line with World Trade Organization rules.
Canada-EFTA Commercial Relationship
In 2007:
• two-way non-agricultural merchandise trade with EFTA countries totalled $12.9 billion;
• Canadian merchandise exports to the EFTA region totalled $5.2 billion, and included nickel, precious stones and metals, pharmaceuticals, mechanical machinery, and copper;
• Canadian merchandise imports from EFTA countries totalled $7.7 billion, and included mineral fuels, pharmaceuticals, organic chemicals, mechanical machinery, and scientific and precision instruments; and
• two-way investment with EFTA countries totalled over $28.3 billion.
For further information, please visit:
www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/efta-aele.aspx?lang=en#2.
