Newspaper article The Canadian Press

Some Details about the Canada-EU Trade Deal

Newspaper article The Canadian Press

Some Details about the Canada-EU Trade Deal

Article excerpt

QuickFacts: Canada's trade deal with Europe

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OTTAWA - The European Union parliament approved a trade deal with Canada on Wednesday after three hours of debate and years of negotiations.

The Comprehensive Economic and Trade Agreement between Canada and the European Union, also known as CETA, was adoted by a vote of 408-254 with 33 abstentions.

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. …

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