Strengthening trade and investment relationship with Canada
Ibec, the group that represents Irish business, has said that the EU-Canada Comprehensive Economic and Trade Agreement (CETA) presents an opportunity to address the most immediate challenges of the 21st century such as climate change and the economic recovery from Covid.
At a virtual event today with The Honourable Mary Ng, Canada’s Minister of Small Business, Export Promotion and International Trade, Ibec CEO Danny McCoy will outline: “Ireland’s economic fortunes rely on an outward-looking, dynamic and successful EU. CETA represents an opportunity to exercise these principles in earnest. Before Covid restrictions came into effect, Canada has increasingly emerged in recent years as a significant FDI influence in Ireland, with almost 7,000 workers now employed by Canadian firms here. In 2019 alone, Irish companies exported approximately €3.8 billion worth of goods and services to Canada, with more than €1 billion imported to Irish shores.
“At a challenging juncture when the global economy endures continued Covid-induced disruption, enhanced trading links between Canada and the EU represents a strategic opportunity to secure lasting benefits on both sides of the Atlantic.”
The Honourable Mary Ng said: “As both Ireland and Canada rollout their post-COVID economic recovery plans, it’s crucial that we continue to carve the path for our SMES, in particular by highlighting the routes and the opportunities available to them through trade. By helping our resilient and innovative small businesses, we can create good jobs, promote economic growth, and build a more inclusive and sustainable future.”