Canada's Sugar Industry Welcomes Canada's Success in the CETA
Canada’s sugar industry is pleased to learn that Canada and the European Union have reached agreement in principle on a Canada-EU trade agreement (CETA). This historic trade agreement represents a ground breaking opportunity for Canadian exporters.
Under the agreement, Canada is expected to secure an additional $100 million in exports of sugar-containing products which will contribute to the long term prosperity of Canada’s sugar industry and attract further investment and jobs in Canada’s vibrant food processing industry. Processed foods such as confectionery and bakery products produced in Ontario and Quebec will have new opportunities in a market traditionally closed to Canadian exporters. Ontario and Quebec together account for two thirds of Canada’s $88 billion in food manufacturing revenues.
The industry encourages the Canadian and EU governments to move forward quickly on the ratification of the CETA and on the creation of administrative mechanisms to implement the agreement.
The CETA is a positive development in a global sugar market that is otherwise distorted by widespread government intervention.