Saskatchewan Conservative Caucus Chair Randy Hoback Highlights Benefits for Saskatchewan of Historic Canada-EU Trade Agreement
Deeper trade with the European Union will bring good jobs, economic growth and greater long-term prosperity to workers and businesses in key sectors of Saskatchewan’s economy, says Hoback
PRINCE ALBERT – October 18, 2013 – Saskatchewan Conservative Caucus Chair andPrince Albert Member of Parliament Randy Hoback, today highlighted the many benefits of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). Prime Minister Stephen Harper announced the conclusion of CETA negotiations this morning in Brussels, Belgium.
“This historic agreement with the European Union is a big win for workers, businesses and families in Saskatchewan,” said MP Hoback. “Throughout our province, hard-working people will benefit, especially in key sectors of our economy such agriculture and agri-food, chemicals and plastics, and advanced manufacturing.
In addition to tariff elimination, CETA provides improved access to EU markets for Canadian goods and services, greater certainty, transparency and protection for investments, and new opportunities in EU procurement markets.
“CETA is an historic, 21st century, gold-standard agreement that is the foundation of the most ambitious trade expansion plan in our nation’s history,” said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. “It is an agreement that will bring benefits to a wide range of sectors in every region of the country and is clear proof of our government’s commitment to opening new, large and dynamic markets to our exporters, workers and businesses.”
An earlier joint study concluded that CETA could bring a 20-percent boost in bilateral trade and a $12-billion annual increase to Canada’s economy. That is the equivalent of adding $1,000 to the average Canadian household’s income or 80,000 new jobs to the Canadian economy.
The EU is Canada’s second-largest trading partner and the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion. CETA is by far, Canada’s most ambitious trade initiative, broader and deeper in scope than the historic North American Free Trade Agreement (NAFTA).