BRITAIN and Canada will have a SEAMLESS trading agreement following our departure from the EU, Prime Minister Theresa May and her Canadian counterpart Justin Trudeau said yesterday.
Canada’s free trade deal with the European Union will form the basis for a swift transition to a post-Brexit trading relationship between Canada and the U.K.
The two leaders told reporters they agreed to a “seamless” transition of the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada after the U.K. leaves the EU and the UK is no longer a party to the CETA agreement.
The U.K. is Canada’s biggest export partner in Europe and May said her government will be putting together a “working group” with Canada on a new trade deal, with CETA as the basis.
Trudeau agreed there could be changes to shape this new deal and make it particular to the relationship between Canada and the U.K. after the initial post-Brexit transition.
“We will be able to move forward in a smooth transition that keeps the essence of CETA applicable to the U.K. in ways that respect the EU’s requirements and rules,” he said.
CETA, which was approved in February after years of talks, officially comes into effect on Thursday.