Prime Ministers Justin Trudeau and Boris Johnson, together with Trade Ministers Mary Ng and Liz Truss, have announced the finalization of a trade continuity agreement between Canada and the United Kingdom which will take effect in 2021.
Providing the announcement via video call, both government’s detailed the signing of the Canada-UK Trade Continuity Agreement.
The deal will ensure that trade terms applicable under the current CETA deal between Canada and the EU will continue to apply between Canada and the UK in 2021.
As the UK’s transition period is set to conclude with the EU next month, the new Continuity Agreement will ensure that 98% of goods and services between Canada and the UK will remain tariff free.
“Free trade is an important part of the way that we’re going to bounce back from COVID,” said Johnson, whose sentiments were echoed by Trudeau, Truss and Ng.
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“Now we get to continue to work on a bespoke agreement, a comprehensive agreement, over the coming years that will really maximize our trade opportunities and boost things for everyone,” said Trudeau.
The announcement comes shortly before the UK and Australia commence the third and final round of trade talks, whereby freer movement of citizens will be a priority issue for both countries.
With strong public sentiment in Canada towards Australia, New Zealand and the United Kingdom, and the UK government’s support for closer CANZUK ties, it is expected that a more comprehensive deal in 2021 between Canada and the UK could include provisions for skills recognition and freer movement of citizens.
The announcement can be watched here:
CANZUK International is delighted to hear of the trade agreement between Canada and the UK and will continue to liaise with the Canadian and British governments, ultimately ensuring that a comprehensive trade agreement between the two countries includes migration, trade and foreign policy accords.
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