Britain and Canada on brink of trade deal to replace EU's
BRITAIN is poised to sign a new trade agreement with Canada to replace the existing deal it has through European Union membership, reports Bloomberg
BRITAIN is poised to sign a new trade agreement with Canada to replace the existing deal it has through European Union membership, reports Bloomberg.
Without such a deal, Britain and Canada would face tariffs from January when the UK finally leaves the EU and is no longer part of the EU-Canada trade agreement that came into force in 2017.
Total trade between Britain and its Britain's 12th-biggest trading partner, was worth about GBP17 billion (US$23 billion) in 2019.
British Trade Secretary Liz Truss said that she hoped Britain could forge a deeper relationship with Canada in future, once this continuity deal has been signed.
'We're determined to reach a deal with Canada before the end of the year - it will help our trade from cars to beef to fish to whiskey,' Ms Truss said.
'I do hope that in the future, as Canada is a member of the Trans-Pacific Partnership which has advanced chapters in areas like data and digital, that we will be able to go much further and build a much deeper relationship with Canada,' she said.