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CETA: a game changer for trade with Canada

Wyślij Print Pobierz added: Krzysztof Bortnowski | 2017-11-28 09:06:12

Canada is liberalising trade exchange with the European Union, which means that Polish companies have great investment and export opportunities ahead. - We consider Canada as a very attractive partner. We have got a lot to offer when it comes to such industries as electrical machinery, IT, aviation, furniture, clothing, chemical, food and mining. There is a huge interest in the market, our staff at trade office in Toronto served 200 enquiries from companies representing a wide variety of sectors - PAIH President Tomasz Pisula argued during a conference dedicated to implications of The Comprehensive Economic and Trade Agreement (CETA).

CETA’s objection is to create a free trade zone between partners which will provide the companies from both sides of the Atlantic Ocean new investment and export opportunities. The provisional application of CETA entered into force on September 21st, therefore the agreement removes duties on 98% of products (tariff lines) that the EU trades with Canada.

Conference dedicated to the implications of CETA took place on November 8th and was attended by Deputy Economic Development Minister Tadeusz Kościński, PAIH President Tomasz Pisula, trade officer are Canadian embassy to Poland Nicolas Lepage and representatives of ministries of economic development and finance.

- CETA is one of the most important trade agreements concluded by the EU in recent years. Liberalization of mutual exchange will limit many non-tariff barriers. The opportunity to participate in public-private partnerships projects undertaking at local government level will be especially important for Polish firms interested in transport investments in Canada. The EU is the first economic partner that Canada opens this market for. This is a great opportunity for Polish rail vehicles manufacturers and those developing the technology of electromobility - Deputy Minister Tadeusz Kościński noted during the conference.

Speakers emphasized that Poland is Canada's most important trading partner in the CEE region, and Polish exports to Canada reached a record value of EUR 1.25 billion last year. We sell there mainly aircraft engine parts, fur skins, ships and boats, furniture, cranes, and we buy machines, mineral raw materials, medical and surgical instruments and mineral fuels. Liberalization applies only to products that can be considered as originating from the EU or Canada respectively. The possibility of using CETA's preferential tariffs on the basis of the "approved exporter" status expires on 31 December this year. Later, preferential exports to Canada will only be possible after registration with REX. According to the Economic Development and Finance ministries’ estimates, the cumulative trade effect of the CETA in Poland-Canada exports may reach $ 446.2 million, of which $ 44.1 million for agri-food products and $ 402 million for non-food goods. The best prospects come before the Polish furniture industry, manufacturers of household chemicals, clothing and accessories, non-wagon vehicles and their parts.

Financial services, facilitation of M&A are also included in the agreement’s scope. However, Canadian restrictions on such transactions in the airline, telecommunications and cultural sectors will remain. The documents also comprise of improved patent protection for European drugs on the Canadian market.

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