A budding future for Europe and Canada

The Comprehensive Economic Trade Agreement (CETA) between Canada and Europe promises rich spoils for all parties. In our recent Think Act publication "Unlocking CETA's potential" we examine the anticipated boons on the way as a result of the landmark deal. International trade, export development and foreign investment are necessary for the growth of two mature economies like Canada and Europe.

Of course, all trade agreements bring their own unique challenges and CETA is no exception. On one hand Europe faces a sustained economic slowdown and weak interior demand. On the other a prolonged drop in oil and natural resources prices is prompting Canada to develop additional growth levers.

While points for clarification remain, there is little doubt relations will be strengthened and economic benefits generated both east and west of the Atlantic. For the European Union, CETA offers the chance to strengthen ties with a stable and reliable partner and custodian of one of the world's largest energy and natural resources reserves. For Canadian companies, access to one of the world's largest economies and a market of more than 500 million consumers is a clear competitive advantage.

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