The Comprehensive Economic and Trade Agreement (CETA) has finally become reality. The new commercial treaty between Canada and EU entered into force on September 21, 2017.
The new agreement stipulates that customs duties on imports into Canada of goods originating in the EU and vice versa be abolished. That will significantly simplify the trade between the two areas, offering great benefits to consumers and businesses and opening the way for the creation of new extremely promising commercial channels.
The treaty is based upon the cooperation tools previously introduced – such as WTO’s General Agreement on Tariffs and Trade, entered into force in 1994 and known as the Marrakesh Agreement – and aims to strengthen the economic relations between the subscribing countries.
It should increase and stimulate the exchange of goods and services by reducing the barriers to trade and investments and by introducing clear and transparent regulations acknowledged by the parties involved. Intech Automazione enthusiastically welcomes the new agreement’s implementation, getting ready to seize the new business opportunities linked to this strategic opening.