Trade and markets
 

Detail

Area
European Union
Commodity Group
Oilseeds, oils and meals
Commodity
Rapeseed
Date
01/10/2013
Policy Category
Trade
Policy Instrument
Trade agreement
Description
Reached agreement of the Comprehensive Economic and Trade Agreement (CETA)
Notes
CANADA / EUROPEAN UNION – trade agreement: The two countries have reached an agreement in principle of the Comprehensive Economic and Trade Agreement (CETA). Canada’s rapeseed industry has welcomed the agreement, saying that it will remove trade barriers in addition to creating mechanisms to regulate trade and prevent disputes. In particular, the agreement was said to (i) eliminate import tariffs on Canadian rapeseed oil entering the EU and liberalize trade in canola and canola products; (ii) call for cooperation on matters concerning biotechnology; (iii) offer mechanisms for preventing and resolving trade issues related to plant health and food safety issues – all critically important areas affecting Canadian/EU trade in rapeseed. The Canola Council of Canada estimates that the elimination of import tariff on rapeseed oil would allow Canadian exporters to raise their sales to the EU by up to CAN$ 90 million per year.