The Europe Canada Free Trade Agreement (ECFTA) is a trade agreement that was signed between Canada and the European Union in 2013. The agreement aims to remove tariffs and barriers to trade between the two regions, making it easier for businesses to trade goods and services.
One of the main benefits of the ECFTA is that it allows for greater access to markets on both sides of the Atlantic. This means that Canadian businesses can sell their products and services to European consumers, and European businesses can do the same in Canada. This increased access to markets is expected to boost economic growth and create jobs on both sides of the Atlantic.
Another benefit of the ECFTA is that it includes provisions on intellectual property rights, which are designed to protect Canadian and European businesses from piracy and counterfeiting. This is important for businesses that rely on intellectual property, such as technology companies.
The ECFTA also includes provisions on government procurement, which will enable Canadian and European businesses to bid for government contracts on an equal footing. This means that businesses will have greater access to public-sector markets, which can be an important source of revenue for many companies.
Overall, the Europe Canada Free Trade Agreement is an important step forward for trade relations between Canada and the European Union. By removing barriers to trade and increasing access to markets, the agreement is expected to benefit businesses and consumers alike. If you`re a Canadian or European business owner looking to expand your business, the ECFTA could be an excellent opportunity to do so.