OTTAWA, ONTARIO — (Marketwired) — 08/05/14 — The Grain Growers of Canada (GGC) are pleased that the text for the Canada-European Union Trade Agreement (CETA) has been agreed upon, and urge the Federal and Provincial governments to finalize its approval.
“This agreement will represent a big boost to the bottom line for Canadian farmers,” said GGC President Gary Stanford. “We are urging the Federal and Provincial governments to act quickly and ensure that farmers have access to a global marketplace.”
With the text now set in place, Canada’s provinces and territories have received the agreement and now must approve its content in order for the CETA to move forward.
“The quickest path to success for Canadian farmers is increased access to markets,” added Stanford. “The CETA will provide that, and ensure a successful future for Canadian agriculture-and our economy.”
Future projections from a joint study with the EU indicate that the CETA could boost trade by 20 percent and increase Canada’s annual income by $12 billion. This is in addition to providing Canadian farmers with access to the world’s largest integrated economy-which includes 500 million consumers and a GDP of $17 trillion.
The EU also releases more than 36 percent of the world’s new processed food products making it the most innovative and leading edge food industry in the world.
“We need to diversify to keep up in the global marketplace,” added Michael Delaney, GGC’s representative on the Canadian Agri-Food Trade Alliance. “Increasing the flow of goods between our country and the EU will only mean good things for Canadian farmers and consumers.”