Minister Moore Highlights Widespread Manufacturing Benefits of Historic Canada-EU Trade Agreement

OSHAWA, ONTARIO--(Marketwired - Nov. 4, 2013) - The Honourable James Moore, Minister of Industry, today underscored how the Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA) will benefit manufacturers across the country. Minister Moore was joined by Dr. Colin Carrie, Member of Parliament for Oshawa and Parliamentary Secretary to the Minister of the Environment. Minister Moore and Dr. Carrie met with industry leaders at the General Motors of Canada's assembly plant in Oshawa.

"Canada's robust manufacturing sector encompasses aircraft, automobiles, medical testing equipment, high-tech devices, and numerous other industries," said Minister Moore. "This agreement will eliminate tariffs on these high-quality products, creating the conditions to increase sales and directly benefiting Canadian businesses. These businesses will be exposed to more than 500 million consumers, which will lead to new jobs, new opportunities and growth."

"This agreement represents a tremendous opportunity for exporters in Oshawa and Canada, particularly in the auto sector," stated Dr. Carrie. "It will open new markets to some of the most affluent consumers, which means more jobs for Oshawa and Canada."

"We applaud Canada and the EU for completing a high-standard comprehensive economic and trade agreement that will provide enhanced opportunities for growth in both regions," said Kevin Williams, President and Managing Director, General Motors of Canada. "We appreciate the hard work to improve market access for Canadian-produced automobiles while ensuring Canada continues to benefit from the integrated manufacturing sector."

An agreement in principle for this historic deal was announced by Prime Minister Stephen Harper and European Commission President José Manuel Barroso on October 18, 2013. When this agreement comes into force, approximately 98 percent of EU tariff lines will be duty-free for Canadian industrial products. Seven years later, 100 percent of these tariff lines will be duty-free.

The EU is the world's largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion.

For more information on how the Canada-EU trade agreement will benefit the manufacturing sector, please visit the government's CETA Benefits page (www.actionplan.gc.ca/en/page/ceta-aecg/increasing-exports-manufactured-products).

For more information on the agreement's benefits to every region of Canada, please visit the government's CETA website (http://www.actionplan.gc.ca/en/content/ceta-aecg/canada-eu-trade-agreement).

Follow us on Twitter: @industrycanada