Canadian small businesses celebrate CETA deal

Toronto – The Canadian Federation of Independent Business says it welcomes news that the European Union of the Comprehensive Economic and Trade Agreement, known as CETA, has been reached in Brussels.

“CFIB has been a long-time champion of the CETA, and this deal is a terrific achievement,” said Dan Kelly, the organization’s president, in a news release. “It will provide a much needed boost to our economy, and benefit small businesses across Canada. A number of small businesses already trade with Europe, and welcome the opportunity to increase their trade and open up new trading avenues for their Canadian goods and services.”

The CFIB sees the agreement as addressing goods, services, investment, government procurement and regulatory co-operation. “For Canadians, it represents an opportunity to gain preferential access to the largest market in the world,” the CFIB said. “Reducing barriers to trade and locking in long-term access to this key market will generate valuable new benefits for Canada’s small and medium-sized enterprises, including a reduction of tariffs and the simplification of rules and border procedures.”

CFIB has travelled to Europe several times to promote the deal. The European Union is the second-largest market for Canadian small to mid-sized businesses. CFIB’s surveys show small firms see trade with the EU as an important buffer against relying exclusively on trade with the U.S.

“As a progressive trade agreement, CETA illustrates that likeminded partners can come together to improve trading opportunities,” Kelly said. “Canada and the EU have shown astute leadership by signing this deal,” he said.