CEFIC Urges EP to Approve CETA

18.01.2017 -

Joining other industry associations in the Alliance for a Competitive European Industry (ACEI). the European Chemical Industry Council, CEFIC, has urged the European Parliament to endorse the proposed trade deal with Canada at next month’s plenary session.

In a letter dated Jan. 11, 2017, CEFIC director general Marco Mensink, who is also AECI chair, together with BusinessEurope director general and ACEI co-chair, Markus Beyrer, wrote to the parliament to express the strong support of Europe’s manufacturing industry for the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

CETA will strengthen trade and investment relations between two of the world’s most advanced economies and like-minded partners for the benefit of growth and jobs, the two industry leaders said. According to CEFIC figures, EU chemicals trade alone with Canada reached €2.5 billion in 2015, with a trade surplus of nearly €1 billion.

“The positive signal from the Parliament this week in the Environment Committee (ENVI) gives us hope that the common understanding about CETA being a high-standard agreement that will only bring benefits and safeguard health and the environment has been well heard. We hope the February deadline will keep this momentum going,” Mensink stated.

According to the letter, eliminating customs duties and lowering technical barriers could increase trade between the EU and Canada by nearly 25% and lift EU output by about €12 billion per year. Under CETA, the European Commission said Canada with immediate effect will remove duties on EU exports worth €400m every year. At entry into force, CETA will also give an immediate boost to small- to medium-sized enterprises (SMEs) by wiping out duties for most products.

The EU and Canada approved and signed CETA on Oct. 30, 2016.