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Ottawa, October 16, 2013 — The Canadian Chamber of Commerce applauds the government’s announcement that after four years of negotiation the Canada-EU Comprehensive Economic & Trade Agreement (CETA) is about to be signed.

Perrin Beatty, President and CEO of the Canadian Chamber of Commerce welcomed the announcement: “By tearing down trade barriers and encouraging regulatory coordination, this deal with the world’s largest economy will bring more opportunities for exporters and lower prices for consumers, as well as encourage new investments in Canada.” He added: “As we learned with NAFTA and the Canada-U.S. Free Trade Agreement before it, international trade is a major engine for economic growth. And with the global economy continuing to struggle, such initiatives are more important than ever.”

The Prime Minister, Minister of Trade and the negotiating teams from both countries should be congratulated for their sustained efforts and resolve in the face of very challenging issues. Without their leadership, this agreement would not have been possible.

“Without seeing the final text we cannot know which sectors have benefitted and which have not. But we have long argued that more trade tends to spread benefits throughout the economy over time. “Beatty concluded.

The Chamber looks forward to working with the government and our membership to make sure that the opportunities opened up by this agreement are fully realized. We also hope that the momentum generated by signing this deal will help push forward Canada’s other major trade talks, including with Japan, India, Korea and the Trans-Pacific Partnership countries. 

The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing some 200, 000 businesses of all sizes in all sectors of the economy and in all regions. Follow us on Twitter @CdnChamberofCom.