Governments in Canada and the European Union (EU) welcomed the third anniversary of the provisional entry into force of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

The balance of these three years is very positive: bilateral trade between Canada and the EU has increased by 27% for goods and 47% for services as compared to the situation before CETA entered into force.

The EU is Canada’s second-largest trading partner; nearly $165 billion worth of goods and services flowed between the two parties last year.

The EU’s acting Trade Commissioner Valdis Dombrovskis said: “Over the last three years, CETA has proved its value many times over – not alone in increasing trade and economic opportunities for companies and workers in the EU and Canada, but also by providing a framework for stronger cooperation on sustainability and climate action.”

“Canada will continue to ensure this landmark agreement secures new opportunities for Canadians in the dynamic and growing European market,” said Canada’s Minister of International Trade, Mary Ng.