Tuesday, July 20, 2010

Canada Sees Steep Trade Rise After EU Trade Deal


Canada expects trade with European Union to rise by some 20 percent in the five years after a trade deal between Canada and the EU is enforced, Canada’s trade minister said on Monday.

Canada is negotiating the free trade deal with the EU, which should ease trade and create new business opportunities. The deal is expected to be finalised in 2011, Peter Van Loan said during a visit to Slovenia as part of a European tour.

He told Reuters trade growth should be particularly high with new EU members, where there has so far been little bilateral business.

“I want to highlight ... that there is indeed a part of Europe where there has been high economic growth over the past 10 to 15 years and ... that there are opportunities here,” Van Loan said.

“A study projected a 20 percent increase in trade ... simply as a consequence of the agreement.” Read more here.