CVMA supports the Comprehensive Economic and Trade Agreement between Canada and the European Union (CETA). The agreement provisionally came into force on September 21, 2017.
The CVMA commends Canada and the European Union for concluding a high standard and comprehensive Agreement which maximizes the potential benefit to Canada’s auto companies exporting into that market. This Agreement unifies us rather than separates us by recognizing that automakers in Canada, as some of the largest multi-national companies in the world, have a significant presence in both trade zones, each representing mature markets.
The CETA also includes provisions that are intended to uphold the fact that Canada’s auto industry operates within the highly integrated NAFTA trade region with supplies chains deeply entrenched on a North American basis, providing economies of scale, ultimately beneficial to Canadian consumers in many respects. This is what sets the CETA apart from other bi-lateral Agreements to date.
Trade agreement outcomes that are supportive of Canada’s automotive manufacturing sector and its integrated supply chain benefit Canada’s overall economy. The CVMA commends the Canadian government on achieving strong automotive provisions under the CETA.