The Canadian Cattlemen’s Association (CCA) is pleased to see progression on a future Canada-United Kingdom Free Trade Agreement (FTA) with the tabling of the objectives for negotiations on February 16, 2022, by the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade.
While Canada and the United Kingdom (UK) are currently operating under the interim agreement, CCA’s highest priority has been on achieving a long-term ambitious FTA with the UK that resolves existing trade limiting factors. CCA continues to share its priorities with the Government of Canada as it is imperative that the beef industries in Canada and the UK can enjoy equal access and mutual benefit from and grow this trade relationship. The establishment of progressive trade parameters, such as those contained in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will be CCA’s focus for future negotiations that can now start 30 days after the tabling of the negotiating priorities.
“It is imperative that the beef industries in Canada and the UK both have the opportunity to benefit from this trade relationship,” says Bob Lowe, CCA President. “Currently, the trade relationship is unbalanced and correcting this will be our focus for this negotiation as well as future trade deals.”
Trade Facts:
- Imports from the UK increased in 2020, going from $15.9 million CAD in 2019 to $31.6 million. However, in 2021, there was a decrease to $16.3 million.
- Exports to the UK stood at $20.2 million in 2019, $17.7 million in 2020, and in 2021, they declined to $7.6 million.
- The trade balance for 2021 was -$8.7 million in favour of the UK.
- Under the interim Canada-UK Trade Continuity Agreement (TCA), Canada’s total access of hormone-free beef was 3,279 tonnes in 2021 and will be 3,869 tonnes cwe in 2022. Under the TCA, the UK has full duty access to Canada.
CCA will continue to monitor the beef trade balance between Canada and the UK and the forth coming negotiations.
Source : cattle.ca