Five Reasons CETA is Good for Middle Class Canadians (and the World)

On October 30, I joined European President Jean-Claude Juncker and European Council President Donald Tusk to sign one of the most progressive and ambitious free trade agreements in history: the Comprehensive Economic and Trade Agreement (CETA).

Here are five reasons why CETA is good for middle class Canadians, for Canadian business, and for people around the world:

1. Better opportunities for Canadians

First and foremost, CETA will create opportunities for Canadians across sectors in every region of the country – whether aerospace engineers in Québec, people assembling automobiles in Ontario, forest industry workers in British Columbia, or miners in the Northwest Territories.

CETA’s benefits will be felt broadly by the middle class and those working hard to join it – and not just by the one percent.

2. Small and medium businesses benefit

It’s essential that Canada’s small businesses can compete in international markets and connect with investors and consumers on the world stage. CETA does just that. It will make it easier and less costly for Canada’s small and medium enterprises to do business in the world’s largest market. Small businesses are anything but ‘small’ in terms of their contributions to Canada’s economic growth. They create jobs, foster innovation, and grow the middle class. When Canada’s small and medium businesses benefit, we all do.

3. Greater choices and lower prices for consumers

CETA means Canadians will have better access to high-quality European products – Dutch Gouda cheese or balsamic vinegar from Modena, for example – than ever before. CETA will also keep prices down, so not only will Canadians enjoy more high-quality European goods – they will be cheaper, too.

4. Robust environmental protection and labour rights

CETA reflects Canada and the EU’s shared belief that increased trade and investment should further environmental protection and labour rights. That’s why, under CETA, we have committed to respect and promote internationally-recognized labour rights, and will strive to improve our laws and policies on environmental protection.

5. International leadership

When we signed CETA, we sent a powerful message to the world: Canada is open for business, and we can move forward on trade deals that genuinely benefit everyone. CETA means Canada – a country of 36 million people – will now have preferential access to over half a billion people. Canadians understand the opportunities that go hand-in-hand with a global economy, and that international trade strengthens the middle class, and those working hard to join it. In the coming weeks, months, and years, we will continue to demonstrate leadership on an inclusive, progressive approach to global trade, and show our openness to the world.