CALGARY, ALBERTA--(Marketwired - Oct. 18, 2013) - The Barley Council of Canada (BCC) applauds today's news that the Government of Canada and the European Union have reached an agreement in principle on the Comprehensive and Economic Trade Agreement (CETA). The BCC is confident this landmark agreement will ensure a successful future for Canada's barley producers and industry stakeholders.
"Trade agreements like these are the backbone of Canadian agriculture," said BCC Chair Brian Otto. "Canada relies heavily on international trade, not just for agriculture, but for the entire Canadian economy. CETA places Canada in a better position to compete in one of the world's largest economic blocks."
The CETA is expected to remove tariffs on virtually all of Canada's agriculture and food products over time, giving our export markets a significant boost. With over 500 million people, the EU has one of the largest consumer markets in the world.
"CETA means long-term profitability for the entire Canadian barley value chain," said BCC Vice-Chair and Cargill Director of Corporate Affairs, Chantelle Donahue.
Currently, Canadian agri-food exports to the EU are $2.4 billion a year, a number that could increase by more than $1.5 billion annually under this agreement.