New trade deal struck between EU and Canada to take effect
The International Trade Secretary says deal will eliminate 98% of Canadian trade tariffs.
A new trade deal between the European Union and Canada will come into effect next week, Liam Fox has said.
The International Trade Secretary and leading Brexiteer said the UK had always been a strong supporter of the deal, saying it will eliminate 98% of Canadian trade tariffs.
The EU-Canada Comprehensive Economic Trade Agreement, or Ceta, will be applied in the UK on Thursday following seven years of negotiations.
Dr Fox said: “The UK has always been a strong supporter of Ceta and remains a constructive partner in support of EU free trade agreements.
“Canada is one of the world’s most developed economies and a significant trading partner for the UK.
“The provisional application of Ceta will benefit consumers and provide opportunities for British businesses with 98% of all Canadian tariff lines being eliminated.
“This will create major opportunities for UK businesses across the whole economy and the Government is now working with our Canadian partners to ensure that UK businesses take full advantage of the provisional application of this agreement.”