The CETA (Comprehensive Economic Trade Agreement) is a trade agreement between the EU and Canada designed to abolish customs duties on most goods and services, give access to the public procurement sector and provide mutual protection of investments.
Following the signing of the CETA, Polish and EU companies will be the first foreign companies to have access to the Canadian public procurement market to an extent not allowed in any other international arrangement signed by Canada.
The agreement on free trade between the EU and Canada provides many tangible benefits to entrepreneurs. DAKO, as a company doing business in the EU, will be able to offer the following benefits to its Canadian customers:
- Lower product prices after the abolition of the customs duties. Under the agreement, European companies will be exempt from 99% of customs duties they had to pay in Canada. The same goes for Canadian companies exporting into the EU.
- High-quality products, with guarantee in the form of “certificates of conformity”. These certificates confirm that the given product has been tested and conforms to the relevant technical codes and regulations and that it meets all applicable standards concerning health, safety, consumer protection or environmental protection.
Another benefit of the ratification of the CETA is the reduction of red tape related to import and export. Companies will no longer have to meet double requirements for product testing and undergo painstaking customs procedures. DAKO, as a EU company, will only have to test its product once, in Europe, where it will be able to immediately obtain a certificate of conformity, and this certificate will be recognised on the Canadian market. This will reduce the costs paid by the entrepreneurs and end customers of the company.
It should also be noted that free trade does not entail a reduction or change of the EU standards for quality, product safety or environmental protection. On the contrary – commercial transactions will now have to be in line with all EU laws and regulations concerning products.
To Polish companies, including DAKO, ratification of the CETA by EU countries is an opportunity for a dynamic growth of export to Canada and reduction of legal fees as well as a chance to offer high-quality products (meeting all Canadian requirements and specifications, as confirmed with a generally recognised certificate) to the customers at a lower, competitive price.