Regional and Bilateral Initiatives
Canada - European Free Trade Association (EFTA)
Free Trade Agreement Negotiations
Background
Following extensive consultations to gauge Canadians' interests
and sensitivities, the Government of Canada announced the launch
of negotiations with the EFTA countries (Iceland, Norway, Switzerland
and Liechtenstein) on October 9, 1998. A free trade agreement with
EFTA was supported by a broad cross-section of Canadians (business,
provinces and NGOs). (See the October 9, 1998 News
Release.)
The Canada-EFTA FTA is expected to be a "first-generation"
agreement with emphasis on tariff elimination and trade facilitation.
It is not expected to include new obligations in areas such as services,
investment, and intellectual property. The agreement will introduce
cooperation on competition policy and launch cooperative work in
the important area of trade facilitation. It will be Canada's first
trans-Atlantic free trade agreement.
EFTA countries are developed, modern economies, offering state-of-the-art
technology as well as significant potential markets for competitive
Canadian exporters. An agreement would provide an opportunity for
our industries to further enhance their joint venture activities
and to work together to develop stronger and more efficient domestic
industries.
An agreement with EFTA would also provide an important step in establishing
trans-Atlantic linkages with a small group of European countries
that traditionally share many of our values. A Canada-EFTA FTA can
be expected to facilitate new areas of opportunity and cooperation
bilaterally and would also open channels for like-minded interaction
in a wide range of multilateral fora.
In 2004, two-way merchandise trade was valued at over $8.9 billion
(Canadian exports: $2.3 billion; imports $6.6 billion). Foreign
direct investment from EFTA members into Canada in 2004 amounted
to more than $10 billion.
Update on the Negotiations
Several negotiating sessions have been held since October 1998,
the last in May 2000. Agreement has been reached on most issues
and there is a framework for a deal. No date has been set for the
formal resumption of negotiations.
Contact Point
If you have questions or comments about this initiative we would
like to hear from you. Please contact International Trade Canada
at:
Regional Trade Policy Division (EAI)
International Trade Canada (ITCan)
Lester B. Pearson Building
125 promenade Sussex Drive
Ottawa, Ontario, K1A 0G2
Fax: 613-944-0757
E-mail : consultations@international.gc.ca
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