|By Marketwired .||
|August 5, 2014 04:44 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 08/05/14 -- The Barley Council of Canada (BCC) applauds today's news that officials have reached a complete text, allowing translation and final legal review to commence for the Canada-European Union Trade Agreement (CETA).
"Trade agreements like these are the backbone of Canadian agriculture," said BCC chair Brian Otto. "We would like to thank the government for its continued work on this valuable agreement."
As per their involvement throughout the process, Canada's provinces and territories have now received the complete text and have been briefed on next steps. BCC continues to urge the federal and provincial governments to move quickly to implement this landmark agreement.
"Once implemented, this agreement will place Canada in a better position to compete in one of the world's largest economic blocks," said Otto. "CETA will provide unparalleled opportunities for Canada's barley industry."
The European Union currently boasts over 500 million consumers and a GDP of $17 trillion. Currently, Canadian agri-food exports to the EU are $2.4 billion a year, a number that could increase by more than $1.5 billion annually under this agreement.
With this agreement in place, Canada's barley industry will be provided with unprecedented access to this burgeoning market.