ProMASS, Nov 01, 2016: The European Union and Canada signed a free trade agreement on Sunday that aims to generate jobs and growth.
The deal which comes after weeks of delay and deliberation must still clear some 40 national and regional parliaments in Europe in the coming years to enter fully into force. Canadian Prime Minister Justin Trudeau signed the treaty along with the heads of EU institutions, a step that should enable a provisional implementation of the pact early in 2017 with the removal of most import duties.
According to the deal, EU member states and Canada will exempt each other from customs duties on almost 99 percent of goods, including food and automobiles. The two sides will expand trade volumes in many fields in the future, including industrial and agricultural products, which are of huge importance to strengthen their trade cooperation.
Courtesy: DD News
