Tag Archives: Comprehensive Economic and Trade Agreement

One plant is processing more shrimp thanks to the elimination of tariffs under European free trade deal

The new free trade deal with Europe has only been in effect for a few days but one seafood processor in Newfoundland and Labrador says it’s already meant more work. Ocean Choice International has extended work at the Port au Choix plant.,, On Sept. 21 the Comprehensive Economic and Trade Agreement, or CETA, came into effect. It dropped tariffs on 96 per cent of the Canadian seafood sold into Europe.,, As part of the tradeoff for the elimination of tariffs, Newfoundland and Labrador agreed to drop minimum processing requirements. They required fish caught off the province to be processed there. click here to read the story 12:54

CETA – Canada-European Union pact worries US lobster industry

Members of the U.S. seafood industry are fearful that Canada’s approval of a new trade deal with the European Union will cause big problems for the American lobster business, just as the catch is hitting historic highs. The Canada-European Union Comprehensive Economic and Trade Agreement Implementation Act, or CETA, cleared its final hurdle in the Parliament of Canada on Tuesday. The deal gets rid of tariffs on Canadian lobster exports to the 28-nation bloc, putting Canada at a huge advantage over the U.S.,,, Seafood exporters and lobster industry members like Dave Madden, owner of exporter Lobster Trap in Bourne, Massachusetts, said they fear loss of money and jobs in the U.S. under the new rules. He ships about 4.5 million pounds of lobsters to countries such as Italy, France and Spain per year. click here to read the story 19:27

Ottawa to invest in ‘fisheries innovation’ for Atlantic Canada following EU trade deal

With Canada’s trade deal with the European Union on track to come into force provisionally within weeks, the federal government is set to announce a new fisheries innovation fund. But don’t portray this new money as a way to compensate Atlantic Canada, Fisheries Minister Dominic LeBlanc told CBC News last week. “I didn’t say compensation. That was your word,” LeBlanc said after an announcement in Vancouver last week. “What I said is that we’re prepared to work with provinces to look for a way to make our fishing industry the most innovative, productive, sustainable and globally competitive that we can.” Compensation was what Newfoundland and Labrador was looking for in the face of the Comprehensive Economic and Trade Agreement (CETA), which will prevent Canadian provinces from placing any export restrictions on raw fish. Continue reading the story here 08:58

Fund compensating Newfoundland seafood industry could resolve one of the final obstacles to CETA deal

With the United States poised to adopt a more protectionist trade policy under President-Elect Donald Trump, some good news for supporters of Canada’s major trade deal with the European Union could come this week. A decision is expected soon on compensation for businesses in Newfoundland and Labrador that would lose out due to provisions in the recently-signed Comprehensive Economic and Trade Agreement (CETA) — one of the last potential causes of a hold-up on the Canadian side of the deal. A Liberal source said Prime Minister Justin Trudeau has been discussing a special fisheries fund with Premier Dwight Ball and an announcement could come as soon as later this week. Read the rest here 19:31

FFAW president hopes Canada-EU trade talks aren’t finished

ffaw lifo quotaThe head of Newfoundland and Labrador’s largest private-sector union said he’s disappointed that Canada-EU trade talks have fallen apart. “It’s preliminary, but it doesn’t certainly look good for (the Comprehensive Economic and Trade Agreement) in its current form right now,” Keith Sullivan, president of the Fish, Food and Allied Workers union told CBC on Friday. International Trade Minister Chrystia Freeland walked out of talks Friday with the regional government of Wallonia, which has been blocking the deal, due to be signed next week. Sullivan told CBC the deal as it stood was a “mixed bag” for Canadian workers, but he thought there was potential benefit for the fishing industry. “There was certainly an area where people saw some opportunities where they could get decreased tariffs on some products like shrimp and crab, and that was an opportunity for some people,” he said. “So it was certainly mixed, but it might be all for nothing now.” Read the rest here 12:09