Canadian Chamber welcomes conclusion of UK trade agreement and urges swift ratification

(OTTAWA) – November 21, 2020 – The Canadian Chamber of Commerce’s Senior Director International Policy, Mark Agnew, issued the following statement in response to the conclusion of transitional trade discussions between Canada and the United Kingdom.

“Today news of a rapid Canada-UK trade deal is a bright spot amid a gloomy and trying year for Canada’s exporters, importers and investors.

The UK is Canada’s third-largest export market and second-largest destination for investment abroad, in addition to accounting for nearly 40 percent of our exports to the European Union.  In simple terms, if our trade agreement with the EU matters, then so does securing continuity in our trade with the UK. Today’s announcement also provides a solid foundation for us to expand trade and investment opportunities in discussions on an enhanced bilateral agreement.

As Canadian businesses continue to deal with the economic disruption caused by COVID-19, the certainty provided by the Canadian and British governments in agreeing to a bilateral trade deal is critical. This agreement provides a critical step to help ensure companies will not see tariffs re-imposed on January 1, 2021 and that important discussions will be able to progress on regulatory barriers affecting Canadian exporters.

We call on the Canadian and British government to publish details of the agreement so that businesses can understand all the practical details. We also call on the government and parliamentarians to work together in ensuring a prompt passage of the necessary implementing legislation to provide certainty for Canadian businesses at the earliest possible opportunity.”

About the Canadian Chamber of Commerce – Because Business Matters

The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.

-30-

For more information, please contact: Phil Taylor
ptaylor@chamber.ca (preferred and fastest response time)