EU and Canada deal could boost footwear trade - leatherbiz: Leading ne Leatherbiz

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EU and Canada deal could boost footwear trade

22/11/2012
The European Union and Canada are attempting a final push towards an agreement that could increase trade between the two by more than 20%.

Tariffs on many traded products are low, but there are currently double-digit percentage duties on EU footwear and textiles, processed food and Canadian fish.

The European Commission said the talks between EU Trade Commissioner Karel De Gucht and Canadian Trade Minister Ed Fast are approaching their final stage, with a couple of topics still to be resolved. The talks could go into Friday, November 23.

A joint study concluded an agreement could increase EU gross domestic product by $14.9 billion and Canada's by $12 billion within seven years, with EU exports to Canada rising 24.3% and Canadian exports to the EU by 20.6%.

The deal would be the first free trade agreement between the EU and a G7 country; talks with the US and Japan are yet to begin.


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