Canada pleased with finalising EU trade terms
The Canadian Pork Council (CPC) is pleased with the announcement that Canada and the European Union (EU) finalised the terms of the Comprehensive Economic and Trade Agreement (CETA) and will seek authorisation from their respective parliaments to implement the deal.
In addition to securing free access for processed pork products on the day this new agreement takes effect, Canada will acquire a quota volume equivalent to over 80 thousand tonnes of pork cuts.
“The pork industry appreciates the government pursuing our access interests to the very end.” stated CPC’s Chair Jean-Guy Vincent. “The Canadian and EU markets for pork complement each other and this relationship holds great potential to enhance our sector’s export opportunities, as well as benefit workers, businesses and families who rely on the pork sector for their livelihood.”
Canada’s pork industry exports two-thirds of its production. The diversification in export marketing opportunities is crucial to maintaining this important industry. Canada currently imports a significant volume of high value pork ribs from the EU and the pork industry sees the market opportunity for shipping hams and other pork cuts to the EU.
“Our current exports of pork cuts to the EU are virtually non-existent. This is not because our prices are uncompetitive but instead is due to tariff and non-tariff barriers to entry into the EU market which CETA will now address” added Vincent. “CETA will provide the Canadian pork sector meaningful access to the EU market and an estimated economic return far greater than the projected export value when factoring in the additional economic development stimulated by the increased feed grain production, meat processing and distribution activities generated by these new sales of Canadian pork.
Improved access will occur in stages and allow the Canadian industry to build up its supply potential and provide exporters the opportunity to maximize the value of each product shipped in the global pork market. “Based on existing market intelligence and the anticipated market opportunities for specific cuts of pork, this deal could, in a few short years, lead to annual sales of 400 million dollars,” added Mr. Vincent who raises hogs in Sainte-Séraphine, Québec.
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