Canada and the European Union concluded negotiations on a digital trade pact, a first for Canada that Global Affairs Canada (GAC) says will modernize the bilateral framework for the digital economy.
International Trade Minister Maninder Sidhu and European Union Commissioner for Trade and Economic Security Maroš Šefčovič marked the conclusion at a meeting alongside the Canada-EU summit in Montréal, held Oct. 29-30. GAC said it was their third meeting this month.
The department said the agreement would complement benefits already provided by the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). Global Affairs Canada said the agreement is meant to strengthen companies’ ability to compete and expand as more commerce shifts online.
The Oct. 31 readout did not detail the agreement’s terms or its approval process. Before the summit, GAC said Sidhu met EU trade counterparts in Dublin on Oct. 22 to continue work on the proposed deal, as covered in EconoTimes’ report on the pre-summit talks.
Sidhu and Šefčovič are scheduled to meet next at the EU ministerial dialogue with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Hanoi, Vietnam.
