Canada and Europe Sign Trade Deal

October 18, 2013 Share Print 0

Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment.

The deal will lower tariffs, streamline regulation, and cut red tape.

Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday.

Mr Barroso said they had reached a “breakthrough in negotiations” to achieve “a great agreement for both the European Union and Canada”.

The deal still requires approval by parliaments and EU member states.

Once approved, the agreement aims to make it easier for companies in Canada and the 28-member EU bloc to invest in and sell to each other.

The European Union is Canada’s second-largest trading partner behind the US.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.