Ibec said Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU, will 'increase market access opportunities for Irish business' and will 'improve the regulatory regime between the two jurisdictions', following a recent event it hosted in collaboration with the Canadian Embassy and the Ireland - Canada Business Association (ICBA).
Reportedly, CETA has 'presented Irish businesses with an opportunity to expand and scale up export operations in Canada'.
Pat Ivory, Ibec Director of EU and International Affairs, stated: “Ibec has worked with strategic business partners at both a domestic and EU level throughout the CETA negotiation process and we are fully supportive of its implementation.
"More than 600 Irish companies export approximately €1.4 billion worth of goods to Canada each year and a diverse range of sectors are set to benefit from the new agreement including healthcare and mechanical goods."
He also outlined that market access will be greatly improved under the new rules and businesses will also benefit from a more coherent regulatory regime and 'Irish spirits exporters will benefit from the removal of taxes and levies on their products entering the Canadian market.'
Ivory added, “There is a lot of global uncertainty for Irish business at the moment in the wake of as of yet unknown outcomes from Brexit and competitive threats from further afield. By reducing trade barriers, customs costs for importers and exporters and eliminating tariffs, CETA makes it easier for Irish businesses, particularly small firms, to enter the Canadian market or expand existing operations.”
© 2017 - Checkout Magazine by Donna Ahern