Are You Maximizing the Benefits of CETA Preferential Duty Rates? November 2, 2017 Are you maximizing the benefits of CETA preferential duty rates?… Are you aware of all of the trade agreements and sanctions currently in place and which countries are preferred trading partners with Canada?… Does your purchasing department take trade agreements into account when sourcing goods?… Is your company taking advantage of pursuing customers in countries with trade agreements and using it as a sales opportunity?… If you plan to import or export, these important considerations can greatly contribute to your company’s future development and growth. The Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA) came into force on September 21, 2017. Comprised of 28 member countries and over 510 million people, the European Union has the potential to become Canada’s largest trading partner. Accompanied by the Canada-European Free Trade Association (EFTA) Free Trade Agreement, Canada’s eastern provinces are in the best position to benefit trade with European member countries due to their geographic location. In order to secure CETA or CEFTA preferential duty rates, an Origin Declaration must be provided at the time of Canada Customs Clearance. For further information on applicable benefits under CETA or CEFTA or assistance in completing the Origin Declaration, please contact us.
