Benefits for Yukon

What is CETA?

• The Comprehensive Economic and Trade Agreement (CETA) is a free trade agreement between Canada and the European Union, covering virtually all sectors and aspects of Canada-EU trade.
  • Prior to CETA’s provisional application, only 25 percent of EU tariff lines on Canadian goods were duty-free.
  • Following CETA’s provisional application, the EU removed tariffs on 98 percent of its tariff lines.
  • After seven years, the EU will have eliminated tariffs on 99 percent of its tariff lines.
• For service providers, CETA grants the best market access that the EU has ever provided in a free trade agreement.
• CETA helps create middle-class jobs, strengthen economic relations with the EU, and boost Canada’s trade with the world’s second-largest market with over 500 million consumers and a $22 trillion GDP.

Benefits for Yukon Companies:

• Under CETA, 98 percent of EU tariff lines are immediately duty free for Yukon goods, including metals and minerals and mining equipment.
• Improved access to the EU for Yukon service suppliers in areas such as technical and professional services.
• Enhanced labour mobility for business-related travel.
• Ability to bid on procurement contracts at all levels of EU government.
• Greater certainty, transparency, and protection for investments.

To learn more about CETA, visit our website: www.international.gc.ca/CETA

The Canadian Trade Commissioner Service provides expert advice and key contacts for exporters, partners and investors.
Contact a Trade Commissioner today: tradecommissioner.gc.ca

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Source: Statistics Canada

Text version

• 2016: $580,000
• 2015: $213,000
• 2014: $180,000
• 2013: $647,000
• 2012: $485,000

Source: Statistics Canada

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• Fidh & Seafood: 64%
• ICT: 22%
• Other: 14%

Mining, Energy and Exploration

• The EU is the world’s largest importer of metals and minerals and its consumption has grown rapidly over the past decade.
• On day one of provisional application, CETA immediately eliminated all tariffs on the territory’s exports of metals, minerals, and mining equipment, making these products more competitive in the EU market. For example:

• Yukon’s extractive industry benefits from preferential access to provide technical and advisory services in the EU. Service providers from Yukon can compete on equal footing with EU service providers and receive better treatment than most of their non-EU competitors.
• CETA’s labour mobility provisions make it easier for highly-skilled professionals in the mining and energy sector to conduct business in the EU, for example, to attend meetings, negotiate sales, and provide engineering and technical consulting services.

Aboriginal Businesses

• In all of Canada’s international trade agreements—including CETA—Canada has included exceptions and carve-outs to ensure its ability to adopt measures that preserve rights or preferences for Aboriginal peoples.
• Nothing in CETA prevents governments from regulating in the public interest, including providing preferences for Aboriginal peoples.
• Exceptions to government procurement rules also align with what Canada has done in previous trade agreement. These include exceptions for Aboriginal businesses.

Investment

• Rich in mineral and metal resources with well-developed infrastructure, Yukon will become a more attractive investment destination under CETA.
• CETA spurs investment by providing Canadian and EU investors with greater certainty, transparency, and protection for their investments.
• Under CETA, companies operating in Yukon enjoy guaranteed preferential access to both the EU and North American markets.
• Sectors of strengths for Yukon, including mining and exploration, oil and gas, and innovation and technology, especially benefit from CETA’s investment provisions.