On September 21, 2017, the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), Canada’s most ambitious trade agreement since the North American Free Trade Agreement (NAFTA), provisionally entered into force. The 27 European Union members and the United Kingdom (referred as the EU hereafter), as a group, represent Canada’s second largest merchandise trading partner after the United States. In 2019, the EU accounted for over 8 percent of Canada’s merchandise exports and nearly 13 percent of Canada’s merchandise imports. This report aims to present Canada’s merchandise trade performance in the two years since the implementation of CETA. It provides historical comparisons of trade performances before and after CETA and comparisons between the products that directly benefit from CETA concessions (affected products) and products that were already duty-free, and for a limited number of agricultural products that were exempted from concessions (non-affected products). However, this presentation of post-CETA trade performance should not be considered a causal effect of CETA. Given the short time series of trade data available since CETA was implemented, the analysis does not use advanced econometric techniques to establish causality and to control for macroeconomic fluctuations and other industry- and product-specific factors that also influence post-CETA bilateral trade flows. A more sophisticated analysis would be undertaken to isolate CETA’s effect when a longer time series becomes available. The analysis is presented in three parts: 1) Canada-EU trade performance based on Statistics Canada’s trade data; 2) Canada-EU trade performance based on respective import statistics from Statistics Canada and Eurostat, which allows for splitting trade according to tariff concessions under CETA; and 3) the utilization of CETA preferences.

This study will analyse the potential economic impact of a lack of the Trade Continuity Agreement between Canada and the United Kingdom when the United Kingdom would no longer be a legal party to Canada-EU treaties, including CETA as of January 1, 2021. In the absence of a transitional agreement or a trade agreement between Canada and the United Kingdom, bilateral trade between the two countries would be governed by WTO rules alone, and the goods trade between Canada and the United Kingdom would be subject to WTO most-favoured nation (MFN) duties. Neither Canada nor the United Kingdom would continue to benefit from the preferential market access currently provided for under CETA. In May 2020, the United Kingdom announced the applied MFN tariff schedule referred to as the UK Global Tariff (UKGT), which would take effect after the post-Brexit transition period. The United Kingdom’s bound tariff rates—the highest tariffs that the United Kingdom could apply—have not yet been certified at the WTO. The proposed bound tariffs are almost identical to the EU’s Common External Tariffs (CET). The analysis that follows explores the economic implications of the two scenarios where Canada-U.K. trade reverts to MFN conditions: the U.K. applied tariffs (UKGT) and the U.K. bound tariffs (EU CET). The benefits from increased certainty for the services sectors under CETA would also be removed.

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The Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA or Agreement) is a comprehensive agreement that covers virtually all sectors and aspects of Canada-EU trade. The Agreement provisionally entered into force on September 21, 2017, and has eliminated or reduced barriers to trade, established and strengthened the trade rules that govern bilateral trade. This report reviews the two partners’ trade performance three years after CETA provisionally came into effect. In particular, it compares trade performance in year 2016 (pre-CETA provisional application) with year 2019 (post-CETA provisional application and pre-COVID 19 pandemic). Where available, 2020 trade data has been included to provide a complete overview.

2019: This report provides a comprehensive summary of the main developments in Canada’s commercial activities during the previous year. It describes the events that took place in the global economy and trade in 2018, the main developments in Canada’s economy and those of its most important partner economies and regions. It reports the developments in Canada’s trade in goods and services, as well as flows and stocks of foreign direct investment and Canadian direct investment abroad. 2020: This report gives Canadians a snapshot of our economic activities in 2019 while recognizing the unprecedented global uncertainty of 2020 amid the COVID-19 pandemic. This report highlights how Canadian innovation and resilience has allowed our businesses to continue to compete in the global marketplace and our government’s commitment to supporting trade through turbulent times. 2021: This report captures the story of the incredible sacrifices made and resilience demonstrated by Canadians and businesses through an unparalleled chapter in our country's history, and charts a path forward as we step into our recovery from the COVID-19 pandemic. 2022 : This report highlights Canada's robust trade and investment recovery, which has displayed remarkable resilience during another challenging year. This year's report focuses on free trade agreements, which will continue to be vital tools for Canadian businesses as they enter this new phase of the post-pandemic recovery.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a mega regional trade agreement that involves 11 countries spanning the entire the Asia-Pacific region, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Canada is among the first six countries to have ratified the CPTPP on December 30, 2018, along with Australia, Japan, Mexico, New Zealand and Singapore. The Agreement was later ratified by Vietnam on January 14, 2019, and most recently by Peru on September 19, 2021.

Canada and Mexico share a dynamic and prosperous relationship: as friends, as North American neighbours, and as strategic partners in the Americas and in the world. Over the years, our cooperation has expanded across a wide range of political, trade, social, environmental and security interests.

The year 2024 marks the 15th anniversary of the implementation of the Canada-Peru Free Trade Agreement (CPFTA), which officially came into force on August 1, 2009. The agreement was a significant milestone for both Canada and Peru. For Canada, it reinforced its commitment to expanding trade within South America, building on the strategy to enhance Canada's competitiveness through trade liberalization initiatives and bilateral agreements. For Peru, the CPFTA was a crucial step toward deeper integration into the global economy and marked the beginning of a series of subsequent free trade agreements with other developed economies.

The year 2022 marked the 25-year anniversary of the implementation of the Canada-Chile Free Trade Agreement (CCFTA), which entered into force on July 5, 1997. The agreement was groundbreaking in many aspects for both Canada and Chile. For Canada, it was the first free trade agreement signed with a South American country and one of the most comprehensive free trade agreements Canada made since signing the North America Free Trade Agreement. For Chile, it was the first trade agreement concluded with a leading industrialized country and the beginning of a series of subsequent FTAs it would sign with other countries.