Mayor welcomes Canada-EU trade agreement
Created: Monday, 21 October 2013 10:29
Clarke touts advantages of Port of Sydney for free trade with Europe
October 21, 2013
SYDNEY, NS - The Port of Sydney is ideally positioned for Atlantic Gateway opportunities related to the historic free trade agreement between Canada and the European Union says Cape Breton Regional Municipality Mayor Cecil Clarke.
"We are the home of the most eastern mainland deepwater port in North America and that's a special advantage when it comes to increased movement of goods to and from Europe," said Clarke.
Clarke discussed the new trade agreement in recent days with regional minister Hon. Peter MacKay and Transport Canada minister Hon. Lisa Raitt.
"As Minister MacKay pointed out, it's not only about opportunities for trade, it also means investment in infrastructure and advances the importance of road, rail, air and ocean transportation networks," said Clarke. "By opening the 500 million consumer market in Europe to Canadian products such as seafood and forestry products, we are building new trade relationships and routes."
The Comprehensive Economic and Trade Agreement (CETA) is potentially the largest trade agreement in Canada's history. The 28 countries of the European Union comprise a $17-trillion economy. Almost all tariffs on goods moving between Canada and EU countries are expected to be removed and trade is expected to increase by 20 per cent, increasing Canada's GDP by $12 billion annually. The federal government calculates that as the equivalent of creating almost 80,000 new jobs or increasing the average Canadian family's annual income by $1,000.
"This agreement means increases in the amount of product Canadian companies will ship to Europe and the flow the other way as well," continued Clarke. "Our port is already an attractive world-class asset, but this trade deal really enhances the opportunities ahead."
Cape Breton Regional Municipality and its economic development partners are positioning the Port of Sydney as an attractive international investment opportunity. Sydney's dredged harbour, the most eastern deepwater port in North America, is capable of accommodating post-Panamax container ships.