Free trade deal between EU, Canada produces win-win results in past 3 yrs

Source: Xinhua| 2020-10-30 09:52:39|Editor: huaxia

BRUSSELS, Oct. 29 (Xinhua) -- The Comprehensive Economic and Trade Agreement (CETA), a free trade deal between the European Union (EU) and Canada, has helped the two sides in boosting trade and jobs over the past three-odd years, the EU and Canadian leaders said on Thursday.

European Council President Charles Michel and European Commission President Ursula Von der Leyen held their first summit, via video connection, with Canadian Prime Minister Justin Trudeau since the pair assumed their roles to lead the pan-Europe bloc in late 2019.

Michel said the trade agreement, signed in October 2016 and taking effect in September 2017, has had trade increased by 24 percent for goods and 25 percent for services compared to pre-CETA levels.

According to Trudeau, exports from Canada towards the EU grew by 20 percent and CETA has "created good jobs on both sides of the Atlantic" as well.

During the summit, the leaders discussed the roles that CETA can play in the economic recovery from the health crisis, both in Canada and the EU, in an eco-friendly way by fostering the creation of green jobs.

The trio agreed to hold the next EU-Canada summit when conditions allow. The last meeting between the two sides took place in July 2019 in Canada's Montreal. Enditem