EU-Canada relations: Comprehensive Economic and Trade Agreement (CETA) boosted bilateral business ties, cooperation on critical raw materials, evaluation finds

Here is the full study (pdf, 319 pages)

Here is the executive summary (pdf, 17 pages)

TLDR:

• CETA has effectively eliminated duties for 98.6% of all Canadian tariff lines and for 98.7% of EU tariff lines. As a result, the simple average EU tariff on Canadian exports decreased from 5.1% to almost zero, while the Canadian tariff on EU exports declined from 4.2% to nearly zero
• Bilateral trade in goods and services between the EU and Canada has increased from €64 bn to €72 bn in the pre-CETA period (2012-2016), representing a 12.5% increase
• During the post-CETA period (2017-2023), total bilateral trade increased by 71%, from €72 bn in 2016 to €123 bn in 2023, despite the negative impact of the COVID-19 pandemic in 2020
• When considering the increase in bilateral trade from 2016 (the year before CETA came into effect) to 2023, the total bilateral trade in goods increased by 65.0%, while total bilateral trade in services increased by 81% in the same time perio- CETA has effectively eliminated duties for 98.6% of all Canadian tariff lines and for 98.7% of EU tariff lines. As a result, the simple average EU tariff on Canadian exports decreased from 5.1% to almost zero, while the Canadian tariff on EU exports declined from 4.2% to nearly zero.
• Bilateral trade in goods and services between the EU and Canada has increased from €64 bn to €72 bn in the pre-CETA period (2012-2016), representing a 12.5% increase.