This briefing provides an overview of the issues of European Union (EU) enlargement, describes the advantages for the 10 new member states and outlines how enlargement will impact the Canada–EU trade and investment relationship.
Document Highlights
The most recent expansion of the European Union (EU) has provided advantages and constraints for the 10 newest EU countries as well as for Canada.
One of the most beneficial economic opportunities resulting from enlargement for Canadian businesses is the EU’s common trade policy. The main risk to future Canadian exports is increased competition from countries within and outside the EU. At the Canada–EU Summit in March 2004, a new framework for the Trade and Investment Enhancement Agreement was established to further stimulate the economic relationship.
New members have adopted all aspects of the EU Common Commercial Policy, EU customs legislation, and will also adopt the EU’s higher regulatory standards. They received financial support from the EU to reduce inequalities among regions and social groups. Enlargement has stimulated wide-ranging economic reforms, improved stability in the region, and made travel easier around central and eastern Europe.
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