Draft EU-Canada Trade Agreement Order

Part of Food Advertising (Protection of Children from Targeting) – in the House of Commons at 12:56 pm on 26th June 2018.

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Photo of Liam Fox Liam Fox The Secretary of State for International Trade and President of the Board of Trade 12:56 pm, 26th June 2018

I will make some progress.

This Government are clear that CETA is a good deal for Europe and a good deal for the United Kingdom. Our total trade with Canada already stood at £16.5 billion last year, up 6.4% on the previous year, with a services surplus of £1.9 billion. CETA will improve on this already strong economic partnership. It is an agreement that will potentially boost our GDP by hundreds of millions of pounds a year. It will bring down trade costs, boost trade and investment, promote jobs and growth and increase our ability to access Canadian goods, services and procurement markets, benefiting a wide range of UK businesses and consumers. More trade and more growth result in more money for the Treasury, with benefits for our publicly funded services. CETA is a comprehensive and ambitious agreement, the most comprehensive agreement between the EU and an advanced partner economy that has come into force so far.