Canada and the United Kingdom conclude transitional post-Brexit trade agreement
With the fast approaching departure of United Kingdom from the European Union (and CETA) the governments of Canada and the UK have announced the successful conclusion of talks for the Canada-United Kingdom Trade Continuity Agreement, an interim deal that will be in place as Canada and the United Kingdom work towards negotiating a comprehensive free trade agreement.
As CETA will no longer apply to the United Kingdom beginning January 1, 2021, the new agreement will provide continued access to the benefits of CETA on a bilateral basis.
This will provide stability and predictability for businesses, exporters, and workers in both Canada and the United Kingdom
Two-way merchandise trade with the United Kingdom totalled $29 billion in 2019, making it Canada’s fifth largest trading partner after the U.S., China, Mexico and Japan.
CETA continues to govern Canada-EU trade and is unchanged by the successful conclusion of Canada’s Trade Continuity Agreement with the United Kingdom.