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- Canada is identified as a key global trading partner for Ireland

The Minister for Foreign Affairs and Trade, Charlie Flanagan, TD, has welcomed today’s signing of the landmark EU-Canada Comprehensive Economic and Trade Agreement (CETA).

The Canadian Prime Minister, Justin Trudeau today signed the deal with the Presidents of the both the EU Commission and Council, Jean-Claude Juncker and Donald Tusk respectively.

Minster Flanagan stated:

“I welcome the formal signing of the CETA deal today following the resolution of outstanding issues earlier this week. I strongly believe that the conclusion of this CETA deal is in the best interests of Ireland, the EU and Canada. It is expected that this agreement, which will eliminate virtually all tariffs in bilateral trade between Canada and the EU, could lead to an increase in annual trade of up to €11 billion per year.

“Canada is already a strong trading partner for Ireland, and only this week, I launched the Ireland – Canada Business Association Summit with the former Premier of Quebec, Mr Jean Charest. Mr Charest is of course regarded as the father of CETA and I would like to extend my particular congratulations to him and to all involved in negotiating this historic agreement.

“Canada is a G7 economy with a GDP of over €1.3 trillion, and annual trade with Ireland already in excess of € 2.75 billion. As it is already the EU's 12th most important trade partner, the potential for further development of EU-Canadian business links is very high.

“CETA is important for Ireland, given the considerable further trade potential between Ireland and Canada which we must exploit for the benefit of the citizens of both of our countries.

"Ireland and Canada are natural strong trading partners with a great deal in common in terms of history and values.

"This groundbreaking agreement comes at an important time, following the UK vote to leave the EU. The Government will work to ensure Irish businesses, producers and our citizens benefit from CETA."