An ambitious Canada-European Union (EU) trade agreement will benefit businesses and workers, ministers from Canada and Denmark said after they met to discuss the ongoing negotiations.

Denmark currently holds the presidency of the Council of the EU. Its Minister for Trade and Investment, Pia Olsen Dyhr, met with Ed Fast, Canada's Minister of International Trade in Ottawa, releasing a joint statement following their meeting. According to the statement, the ministers are pleased at the progress made in negotiations so far, with both reaffirming their commitment to an ambitious outcome to the talks.

The statement goes on to note that negotiations are now entering a stage where solutions to the remaining issues are being actively explored. The ministers believe that a comprehensive economic and trade agreement will benefit Canadians and Danes alike by providing new sources of jobs and growth, lower prices for goods and services for families, and higher wages for workers. In particular, it is hoped that those working in the fish and seafood, technology, advanced manufacturing, transportation, agriculture and renewable energy sectors will do well out of the deal.

Bilateral trade between Canada and the EU reached CAD92.1bn (USD93.7bn) last year. The ministers argue that an agreement could increase this trade by 20%. Concluding their statement, ministers said: “In what remains a challenging global economic climate, a successful outcome to our negotiations will deliver significant benefits to our citizens and ensure the long-term prosperity of both Canada and Denmark.”

April 26, 2012

Source: Tax News

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