Canada-European Union Comprehensive Economic and Trade Agreement offers growth potential for Canadian recreational boating industry
October 22, 2013
Filed under News
Bolton, ON (October 18, 2013) The National Marine Manufacturers Association Canada (NMMA Canada) today announced its support of the agreement in principle of the Canada-EU Comprehensive Economic and Trade Agreement (CETA) noting potential growth opportunities for the nation’s $8.9 billion recreational boating industry. The Agreement was reached in principle by Prime Minister Stephen Harper and Mr. Jose Manuel Barroso, President of the European Commission, today in Brussels, Belgium.
“We are pleased that CETA has been agreed to in principle after a significant amount of work and effort by Canadian and European negotiators. Members of NMMA Canada look forward to realizing increased export opportunities with access to an entirely new customer base as a result of this important agreement,” said Sara Anghel, Executive Director/VP Government Relations, NMMA Canada. “We take great pride in the fact that our Canadian manufacturers, dealers, brokers and other services are strong players on the world stage. We look forward to CETA being finalized as it will further boost our capacity to compete and provide customers in Canada and now Europe, with the high-quality products they expect.”
According to the announcement made by Prime Minister Stephen Harper, the Canada-EU Comprehensive Economic Trade Agreement is the most ambitious trade agreement in Canadian history. It includes the trade of goods and services, investments, and government procurement and offers the opportunity for additional partnerships in areas such as regulatory cooperation. The Agreement is expected to ultimately create jobs and growth opportunities for Canadian businesses.
In September 2013, NMMA Canada wrote to the Minister of International Trade, Foreign Affairs, Trade and Development Canada stating its support for the federal government’s timely conclusion of the Canada-EU CETA negotiations and reiterating the importance for this agreement to be finalized as soon as possible.
According to The Economic Impact of Recreational Boating in Canada: 2012, the recreational boating industry is a significant economic driver for Canada; generating $8.9 billion in revenues, contributing $5 billion to GDP, and employing nearly 70,000 people.