Trade Agreements between Canada and Belgium

1807 Words4 Pages

Trade Agreements between Canada and Belgium

Economic and Trade Relations

Belgium is Canada’s 12th export destination with $873 million and is also the 19th country regarding imports with $776 million. Canadian exports to Belgium amounted to $2.3 billion in. The major entry point in trading goods between Canada and Europe is the Port of Antwerp.

In 2013, Canada and the European Union (EU) reached a trade agreement. Prime Minister Stephen Harper announced that the trade agreement will boost trade and investments between the two countries, as well as creating employment opportunities for many Canadians. This agreement covers most aspects of the Canadian and EU economic relationships, including trades in goods and services and also investments. Prime Minister Stephen Harper stated that, “This trade agreement is a historic win for Canada. It represents thousands of new jobs for Canadians and a half a billion new customers for Canadian businesses”.

This agreement provides Canada with access to 500 million different consumers in the EU. Canadian workers benefit from the increase of access to the EU’s market which currently makes $17 trillion annually. The deduction of 98% of the tariffs in the EU will increase profits for Canadian businesses all over Europe. An example of this is the elimination of tariffs in agriculture and fish, which means that seafood such as lobster, producers of maple syrup in Quebec, and growth of fruits in Ontario and British Columbia will see an improvement in their profits. Making trade negotiations with the EU has been the most collaborative trade agreement Canada has ever made.

Partnership or Joint Venture between a business in Belgium and a Canadian Business

Beverage Partnerships Worldwi...

... middle of paper ...

...es-historic- trade-agreement-european>.

"Countries and Regions-Canada-Trade." European Commission. N.p., n.d. Web. 27 Mar. 2014. .

"Country statistical profiles: Key tables from OECD." Country statistical profile: Belgium. N.p., n.d. Web. 24 Mar. 2014. .

"Godiva Chocolate." World Wide Chocolate . N.p., n.d. Web. 28 Mar. 2014. .

"Government of Canada." Canada. N.p., n.d. Web. 17 Mar. 2014. .

"WORLD TRADE ORGANIZATION." WTO. N.p., n.d. Web. 24 Mar. 2014. .

Open Document