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News
Industry celebrates EU-Canada fair trade deal
Trade groups have welcomed a landmark fair trade agreement between the EU and Canada, which is expected to be concluded today.
Canadian and European politicians are expected to conclude a protracted deal for fair trade today
European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy have joined Canada’s Prime Minister Stephen Harper today for the Canada-EU Summit 2014 in Ottawa.
The summit is expected to mark the conclusion of five years of negotiations for a Comprehensive Economic and Trade Agreement (CETA) between Canada and Europe.
“This is great news for European and Canadian consumers, and great news for the spirits sector in Europe,” said Paul Skehan, director general of Spirits Europe, the body representing European producers of whiskies, gin, vodka, Cognac and other spirits.
“At a time when domestic markets are difficult, export markets are providing the only opportunities for growth. Canada is already the 5th largest market for European spirit drinks, generating €285 million for the European economy each year, and a deal now will open the opportunity for increasing our sales there.
“It would also mean greater access to quality European spirits for Canadian consumers.”
Spirits Europe said it is “encouraged by the deal’s full elimination of all import tariffs on spirits and wine, abolition of the obligation to bulk blend spirit imports with local content, increased transparency among liquor boards, the recognition of spirits’ geographical indication in Canada, as well as European protection for Canadian whisky and rye.
Jan Westcott, president and CEO of Spirits Canada, the national trade association representing the interests of Canadian spirits producers, said: “CETA provides Canadian spirits the platform to expand and broaden sales to the world’s largest consumer market.”
“Deep cultural and business ties between Canada and the 28 strong European Union Member States well positions Canadian Spirits exporters to grow from our current $30 million in annual sales.
“The elimination of tariff and non-tariff trade barriers is the key to long-term value for both consumers and manufacturers.”
Once concluded at the summit, CETA will need to be ratified by the EU parliament, with fears some countries may derail the agreement.