November 22, 2020
1 min read

UK, Canada announce interim trade agreement

Canada and Britain signed the Canada-United Kingdom Trade Continuity Agreement on Saturday as an interim post-Brexit trade agreement that will take effect on January 1, 2021 when Britain cuts its final ties to the European Union.

Canadian Prime Minister Justin Trudeau and his British counterpart Boris Johnson announced the deal at a live video news conference on Saturday, Xinhua reported.

“Now we get to continue to work on a bespoke agreement, a comprehensive agreement, over the coming years that will really maximize our trade opportunities and boost things for everyone,” Trudeau said.

“Free trade is an important part of the way that we’re going to bounce back from COVID, but I also think that Canada and the U.K. share a perspective about building back greener,” said Johnson.

The new deal will roll over the provisions in the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which will no longer include Britain on January 1.

Boris Johnson

It will provide continued access to the benefits of CETA on a bilateral basis, including the elimination of tariffs on 98 per cent of Canadian products exported to the United Kingdom.

Britain is Canada’s fifth largest trading partner after the United States, China, Mexico and Japan.

Also Read-French Prez Calls For United Response To Pandemic

Previous Story

Pacer Mohammed Siraj sticks to duty even at father’s demise

Next Story

Lee suggests ensuring affordable vaccines

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop