Trade and investment opportunities in Canada for UK businesses
Canada and UK businesses have deep and broad relationships that provide millions of jobs for workers in both countries. In the wake of the pandemic, those partnerships are more important than ever. Trade between the Canada and the UK plays an essential role in the economies of both nations. The United Kingdom (UK) is Canada’s third-largest partner country for trade in goods and services.
Following Brexit, the drafting of a bilateral trade agreement has begun, and each side seems eager to continue the mission of establishing a long-term free trade agreement. During public consultations in the spring of 2021, Canadians expressed strong support for a free trade agreement with the United Kingdom. On March 24, 2022, Canada and the United Kingdom launched negotiations toward a Free Trade Agreement (FTA). The first round of negotiations will begin on March 28, 2022.
The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, and the United Kingdom’s Secretary of State for International Trade, Anne-Marie Trevelyan, announced they will proceed with negotiations toward a comprehensive bilateral free trade agreement (FTA).
Quick Facts: Valuable Partners – UK Canada
- The United Kingdom was Canada’s third-largest individual country trading partner in 2021 for both goods and services, which were valued together at $42.2 billion.
- Canada exported $24.1 billion in goods and services to and imported $18.1 billion in goods and services from United Kingdom in 2021.
- 3,700 Canadian companies on average export goods to the United Kingdom annually. More than 92% are SMEs.
- The United Kingdom is Canada’s second-largest individual partner, after the United States, in bilateral services trade, direct investment and science, technology and innovation partnerships. In 2019, Canada-U.K. trade in clean technology and environmental products reached $677.6 million.
- The Canada-U.K. Trade Continuity Agreement (TCA) will continue to provide certainty for Canadian and U.K. businesses and remain in place over the course of the negotiations.
- Both the bilateral negotiations and the United Kingdom’s possible accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) present opportunities for Canada to further enhance its relationship with the United Kingdom.
- Canada and the United Kingdom cooperate closely in multilateral forums, including the G7, G20, WTO and Ottawa Group on WTO reform, to advance common interests and promote rules-based international trade.
Source: Press Release; Chambers of Commerce and Canada International
- 18:00 Arrival and registration
- 18:30 Welcome Remarks
- Canada-UK Chamber of Commerce
- 18:35 Keynote Introduction
- Senior Representative, High Commission of Canada
- 18:45 Economic Outlook
- Colin Barker, Counsellor & Senior Trade Commissioner
- 19:00 Panel Session - Moderated by Institute of Directors London
- 19:25 Closing remarks
- 19:30 Networking
- 20:30 End
Prior to joining Canada’s High Commission as the Senior Trade Commissioner, Colin was the Director of the Softwood Lumber Division in the Trade Policy and Negotiations Branch of Global Affairs Canada. Between 2011 and 2015 Colin was First Secretary in Canada’s Mission to the European Union in Brussels where he was responsible for advocacy on trade files in the European Parliament.
Ms. Dubé has been Minster-Counsellor and Senior Trade Commissioner in London as well as Alternate Director for Canada, Morocco, Jordan and Tunisia at the European Bank for reconstruction and Development since 2018. She has worked internationally in Hanoi and Ho Chi Minh City, Vietnam, as a Trade Commissioner and in Rome, Italy, as Head of the Embassy’s Political and Public Affairs section.
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