CANADA STRIKES HISTORIC TRADE PACT WITH EUROPE

Oct 18, 2013

By Andy Johnson

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After four years of negotiations, Canada has struck a historic trade agreement with the the European Union which could increase Canada’s gross domestic product by $12 billion and create as many as 80,000 jobs. The agreement-in-principle was announced this morning in Brussels by Prime Minister Stephen Harper and European Commissioner Jose Manuel Barroso. The deal is bigger in scope than the North American Free Trade Agreement. A 44 page summary released today by Canadian officials lacks key details, but officials say the deal allows for the doubling of the EU quota on cheese exports in exchange for greater access to the European market for Canadian beef and pork.

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