The path to Canada opens for Czech companies
2. 10. 2017 | Source: Business and Investment Development Agency (CzechInvest)
EU-Canada trade agreement eases firms’ entry into the Canadian market.
Provisional implementation of the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada began on Thursday, 21 September 2017. The agreement eliminates most barriers to entering the Canadian market for Czech firms.
“Ninety-eight percent of all tariffs have been eliminated, customs procedures are being streamlined and the Canadian services market is opening up. Our companies will be able to participate in tenders issued at the federal and provincial levels and the rules for sending employees to work there and for business travel are being simplified, and the rules for investors are being made uniform,” says Minister of Industry and Trade Jiří Havlíček.
CzechInvest is beginning to turn its attention to Canada due to the rising potential of Canadian foreign direct investments in Central Europe, particularly in the aerospace, automotive and life-sciences sectors. At the same time, there is significant potential in Czech-Canadian cooperation in the field of research, development and innovation.