British Trade Minister Liz Truss had previously said Prime Minister Boris Johnson`s government was committed to a trade deal with Canada by the end of the year. Today`s agreement on the introduction of provisions of the Comprehensive Economic and Trade Agreement (CETA) provides $11.4 billion in security for British companies exporting goods and services to Canada. It will support the UK car industry as well as the food and beverage industry, which are created among themselves for more than half a million people in the UK. At the end of the transitional period, trade between Canada and the United Kingdom will be governed by the Canada-U.K. Trade Continuity Agreement, which, once in force, will reflect CETA conditions. « We are asking the Canadian and British governments to publish the details of the agreement so that businesses can understand all the practical details, » said Mark Agnew, International Policy Director of the Canadian Chamber of Commerce. Ng said discussions with businesses and stakeholders would take place « within one year of the ratification of this agreement. » Today`s agreement strengthens trade by $20 billion and blocks security for thousands of jobs. We look forward to a new, more ambitious agreement next year, with the aim of creating more opportunities for businesses and improving the lives of people across the country. No new trade agreements can be concluded until the end of the transitional period on 31 December. Canada`s current agreement with Britain as part of its European Union trade pact expires when the UK`s divorce from the EU comes into force early in the new year. As an innovative, bespoke production company based in the United Kingdom, which is responding to a growing demand for McLaren super-cars among Canadian buyers, we welcome today`s news that Britain and Canada have reached a continuity agreement. It provides greater security and continuity for us and our Canadian business partners, customers and employees, while continuing to strengthen our presence in this important global market. If the UK were to leave the EU without an agreement: in the video interview, which was also attended by International Trade Minister Liz Truss and her counterpart Mary Ng, Mr Trudeau said: « We can now continue to work on a tailored agreement, a comprehensive agreement in the years to come, that will really maximize our trade opportunities and make things better for all. » Boris Johnson said the extension was « a fantastic deal for Britain, » adding: « Our negotiators have worked from afar to secure trade deals for the UK, and from early next year we have agreed to start working on a new tailored trade agreement with Canada that will go even further to meet the needs of our economy. » This is good news for trade and paves the way for a new trade agreement between Britain and Canada in the future.
« It is now essential that Boris Johnson and Liz Truss show the same urgency when it comes to securing the other 14 outstanding continuity agreements with countries such as Mexico, Ghana and Singapore, where total BRITISH trade of $60 billion is still under threat and time is over, » she added. Canada and the United Kingdom have a long and deep and positive relationship with a long history of close cooperation. The Government of Canada will continue to work closely with the United Kingdom to further improve bilateral trade relations, including by committing each other to negotiating a comprehensive free trade agreement that is best suited to bilateral relations and interests. The government looks forward to consultations with Canadians and the provinces and territories before returning to the negotiating table with the United Kingdom and always prioritizing the needs of Canadian workers and businesses. Canadian companies will not see any change in their mode with the United Kingdom during the transition period. In a conversation with the