Canada-EU trade deal could boost textile industr - sportstextiles: Lea SportsTextiles

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Canada-EU trade deal could boost textile industry

31/10/2016
The European Union (EU) and Canada have signed a landmark trade deal, which will see the removal of 98% of tariffs on goods traded between the parties.

The Canada-EU Comprehensive Economic and Trade Agreement (CETA) was signed in Brussels on October 30 by Canadian Prime Minister Justin Trudeau and leading EU officials. It had previously been held up after an objection from a Belgian region. 

Final ratification of the agreement by the European Parliament and the governments of all 28 EU member states is required before it can come into force.

Among the sectors that could benefit from CETA is the textile industry. Textile products from the EU are currently subject to Canadian trade tariffs of up to 18%. The removal of this tariff would likely lead to a large rise in exports to Canada.

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