The Comprehensive Economic and Trade Agreement (CETA): What Impact Will It Have on Quebec?

If its economy is to grow, Quebec must export more. The signing of the Comprehensive Economic and Trade Agreement (CETA) will give Quebec companies better access to the European market, letting them bid on public procurement opportunities and consolidate their position with European importers. Quebec’s economic relationship with the European market includes more than mere exchanges of goods; it also embraces bilateral investments, trade in services, and labour mobility. Europe thus constitutes a new natural market for many Quebec firms. CETA will have a measurable impact on Canada’s exports to Europe. According to the forecast model used, the tariff reductions under CETA could lead to a $324-million increase in exports by 2022, mainly in the chemical products, plastics, and rubber sector.