Area
European Union
Commodity Group
Oilseeds, oils and meals
Commodity
Rapeseed oil
Date
01/10/2016
Policy Category
Trade
Policy Instrument
Trade agreement
Description
The European Union and Canada signed a bilateral Comprehensive Economic and Trade Agreement (CETA), opening the way for the accords provisional application and for formal ratifications by national parliaments. Under the accord, tariffs on Canadian rapeseed oil entering the EU will be eliminated.
Notes
On 30 October, the EU and Canada formally signed the bilateral Comprehensive Economic and Trade Agreement (CETA), which opens the way for the accords provisional application and for formal ratifications by national parliaments. For oilseeds, a key element of CETA is the elimination (immediately upon implementation) of tariffs on Canadian rapeseed oil entering the EU a measure that, according to the Canola Council of Canada, will allow Canadian exporters to raise their sales to the EU by up to USD 90 million per year (see also MPPU Nov13 & Nov14). Provisional implementation of the trade pact is expected for next year.
