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EU Finalizes Free-Trade Pact Terms with Canada
Canada and the European Union have finalized the language for a free-trade agreement that would slash tariffs between the two markets 98%, BBC News reports.
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Canada and the European Union have finalized the language for a free-trade agreement that would slash tariffs between the two markets 98%, BBC News reports.
The deal reportedly could increase annual EU-Canadian trade 20%, or about €15 billion. Detail about the pact will be announced when the two parties hold a summit in Ottawa next month.
The 1,500-page document now must be ratified by Canada's 10 provinces and the EU's 28 member states. BBC says the process is expected to be completed by 2015.
Canada describes the trade deal as its biggest ever. Observers say the pact could become a pattern for the monetarily larger free-trade agreement being negotiated between the EU and U.S.
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