October 25, 2013 – The Honourable Diane Finley, Minister of Public Works and Government Services and regional minister for Southwestern Ontario, today said that workers and businesses in key economic sectors throughout the region will benefit greatly from the Canada-European Union Comprehensive Economic and Trade Agreement. An agreement-in-principle for this historic deal was announced by Prime Minister Stephen Harper and European Commission President José Manuel Barroso last week.
“This historic agreement is Canada’s most ambitious ever and is a big win for workers and families in Southwestern Ontario, particularly in the advanced manufacturing, ICT and agricultural industries,” said Minister Finley. “This will be the biggest trade agreement we have ever had in Canada, with an estimated 80,000 new jobs created and an average increase of $1,000 in household income.”
Minister Finley was joined this morning at Canada’s Technology Triangle (CTT) in Kitchener, Ontario, by Robert Luck, Consul and Trade Commissioner for Austria, John Jung, Chief Executive Officer of CTT, Art Sinclair, Vice President for the Greater Kitchener Waterloo Chamber of Commerce, and other key business and industry leaders.
“Our world-class manufacturing and ICT sectors are key drivers of Southwestern Ontario’s economy,” added Minister Finley. “Eliminating tariffs on these high-quality products will create the conditions for increased sales, which will directly benefit hard-working Ontarians through new jobs, new opportunities and higher wages.”
“Our government is focused on what matters to all Canadians: creating new jobs and new opportunities,” said the Honourable Ed Fast, Minister of International Trade. “The Canada-EU trade agreement will generate substantial gains across all key economic sectors covering every region of Canada.”
Canada will be one of the only developed countries to have preferential access to the world’s two largest markets: the European Union and the United States. The competitive edge and combined access to these markets—and their more than 800 million affluent consumers—will make Canada the envy of trading nations worldwide. It will also make Canada an even more attractive destination for investors and manufacturers, and this in turn will create thousands of new jobs and new opportunities for Canadians.
The EU is also the world’s largest integrated economy, with more than 500 million consumers and a GDP of $17 trillion.
For more information on how the Canada-EU trade agreement will benefit Ontario, please visit Benefits for Ontario.
For more information on the vast benefits of this agreement to every region of Canada, please visit actionplan.gc.ca/CETA