Newspaper article The Canadian Press

QuickFacts: Some of the Details about the Proposed Canada-EU Trade Deal

Newspaper article The Canadian Press

QuickFacts: Some of the Details about the Proposed Canada-EU Trade Deal

Article excerpt

QuickFacts: Canada's trade deal with Europe

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OTTAWA - The Comprehensive Economic and Trade Agreement between Canada and the European Union, also known as CETA, appears to be close to foundering on the objections of a small region of Belgium. Here are some facts about the deal:

-- Canada is the EU's 12th most important trading partner. The EU is Canada's second-largest trading partner after the U.S. and accounts for nearly 10 per cent of its external trade.

-- In 2014, Canadian exports to the EU totalled $39.5 billion, with imports at $53 billion.

-- The EU has a population of more than 500 million and a nominal GDP of almost $18 trillion.

-- The agreement would eliminate about 98 per cent of the tariffs on both sides of the deal.

-- A joint Canada-EU study concluded that the trade agreement could increase bilateral trade by 20 per cent annually and boost Canada's income by $12 billion annually. …

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