06-07-2007, 11:22 AM
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Franchise Player
Join Date: Oct 2001
Location: Ontario
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Canada pens free trade deal with 4 European nations
http://www.ctv.ca/servlet/ArticleNew...hub=TopStories
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Canada has penned a free trade deal with four small European nations after nine years of talks, International Trade Minister David Emerson announced Thursday.
The agreement, with the European Free Trade Association, is the first deal of its kind in six years and the first ever with European nations.
Iceland, Liechtenstein, Norway and Switzerland currently conduct about $11 billion in two-way trade with Canada.
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The deal provides a phase-out of Canada's tariff over a 15-year period, with a grace period of three years before any cuts begin.
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Emerson also announced that Ottawa is launching free trade talks with Colombia, Peru, the Dominican Republic, and the Caribbean community.
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