Essay about Benefits Of A Closer Eu Canada And Europe

1064 Words Mar 9th, 2016 null Page
Many arguments have been raised advocating the benefits CETA will have on both Canada and Europe. In general, most advocates believe that if CETA becomes ratified, the establishment of an open, tariff-free market in Canada will create many economic gains. They believe that finalizing this trade agreement will unlock opportunities in Canada by opening new markets for Canadian businesses and creating new jobs for Canadian workers. CETA will also support growth and jobs in the EU and bring further benefits from European consumers by levelling the playing field on the Canadian market for EU companies (Heilimo, 2010). Moreover, advocates believe that if CETA was signed, it would significantly increase trade. Although estimates may very, the European Commission and the Government of Canada (2008) conducted a joint study to assess the costs and benefits of a closer EU-Canada economic partnership highlighting the benefits, and they concluded that there is a potential for 20% increase in two way exports, as well as GDP gains of $12 billion for Canada and GDP gains of $20 billion for the EU. In addition, the agreement provides a framework that facilitates a mutual recognition of qualifications in regulated professions such as architects, accountants and engineers (Heilimo, 2010). The relevant professional organizations in the EU and Canada now have a framework that sets out the conditions for the negotiation of mutual recognition agreements for their respective professions.…

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