Westcoast German News Austrian, German and Swiss Stories
Related Articles
The information found in this blog post come from this website: https://ec.europa.eu/trade/policy/in-focus/ceta/ceta-in-your-town/
CETA offers new opportunities for EU businesses of all sizes to export to Canada. The agreement eliminated tariffs on 98% of products that the EU trades with Canada. This amounts to approximately €590 million in saved duties per year once all the tariff reductions kick in. It also gives EU companies the best access ever offered to companies from outside Canada to bid on the country’s public procurement contracts – not just at the federal level but at provincial and municipal levels, too. CETA creates new opportunities for European farmers and food producers, while fully protecting the EU’s sensitive sectors. The agreement now means that 143 EU high quality food and drink products (the “geographical indications”) can now be sold under their own name in Canada and are protected from imitation.
Austria in Brief
Some Austrian companies have set up 80
production sites in Canada, including:
Austria Metal AG
Engel Maschinenbau
RHI
Doppelmayr
Frequentis
There are about 30 Canadian affiliates
located in Austria, such as:
Magna – the largest automobile parts
manufacturer in North America.
BRP-Rotax – develops and
manufactures engines.
TMS Turnkey Manufacturing
Solutions – produces automated
assembly systems; subsidiary of
Valiant in the same sector.
Bombardier Transportation –
manufactures trains and underground
railway systems.
Husky Injection Molding Systems –
supplies machinery for the injection
molding of plastics.
Germany in Brief
Germany’s main services exports to
Canada are:
transport services
information and communication
technology services
maintenance and repair services
architectural services
engineering services
scientific services
professional and management
consulting services
Canadian firms hold €1.6 billion in assets
in Germany, with important investors
including:
Rio Tinto Alcan
Research in Motion
CAE Electronics
Bombardier
Luxembourg
Luxembourg’s main services exports to
Canada are:
financial services
transport services
Luxembourgish goods exports to Canada:
€95 m (2015)
Luxembourg’s major export to Canada
(€60m in 2015) is steel, which is already
tariff free.
CETA will bring big savings on customs
duties by eliminating duties on 99% of all
tariff lines, of which 98% will already be
scrapped at entry into force.
Luxembourg will benefit from tariffs
being removed on virtually all of its
exports, in particular:
Machinery and electrical equipment
- Dress like Mr. Oktoberfest - July 18, 2021
- Learning German in Vancouver - July 15, 2021
- German Language School celebrate their 50th Anniversary in 2021! - July 10, 2021
