Trade and markets
 

Detail

Area
European Union
Commodity Group
Oilseeds, oils and meals
Commodity
Rapeseed oil
Date
01/10/2014
Policy Category
Trade
Policy Instrument
Bilateral trade agreement
Description
Completed negotiation of the Comprehensive Economic and Trade Agreement (CETA) with Canada, which includes elimination of EU tariffs on Canadian imports of rapeseed oil and provisions to reduce biotech-related trade hurdles.
Notes
A declaration marking the end of formal negotiations has been signed by the two countries (see also MPPU Nov.’13). The agreement, which is expected to be implemented in early 2016, has been welcomed by Canada’s canola industry, which hopes to benefit from (i) the EU’s elimination of import tariffs on rapeseed oil, and (ii) provisions to reduce biotechnology-related trade hurdles. Industry officials underlined the importance of timely and predictable approval of new rapeseed varieties containing GM-traits to Canada’s exporters. Reportedly, the two countries agreed to set up a working group that will look into the timeliness of approvals, science-based assessment methods, and special regulations for low-level GM presence in shipments.