The Comprehensive Economic and Trade Agreement (CETA) is a free trade treaty, which would eliminate 98% of the tariffs between the European Union member states (including Republic of Poland) and Canada.
The negotiations to boost business and entrepreneurial ties and cooperation between Europeans and Canadians were concluded on October 30th 2016, after Canadian Prime Minister Justin Trudeau and the European Council President Donald Tusk signed the final text in Brussels. It takes effect on provisional basis on April 1st 2017, after the ratification by the EU parliament on February 15th 2017.
Today, amid the US President Trump’s adoption of protectionist measures by abolishment of TPP (Trans-Pacific Partnership), cancellation of TTIP negotiations (EU-USA free trade) and potential abolition/suspension of NAFTA (Canada-USA-Mexico free-trade agreement), the CETA treaty would make Canada an attractive haven for Polish and other European businesses in North American market. On another side, Poland is considered to be one of the stable economies for doing business in Europe.
Transport
The CETA would boost investments and businesses into Polish markets by Canadian entrepreneurs and expand the volume of Canadian products, such as trams manufactured by Montréal-based Bombardier, riding in Polish towns. In exchange, amid past co-operation with Russia, France and Germany, transportation enterprises of Warsaw can contribute into extension projects for new subway systems in Toronto area, which are in high demand in the city.
Polish enterprises can also provide civilians of Toronto to obtain smaller cars in order to ride in narrow and overcrowded streets of the city as Poland is considered to be one of the largest producers of light vehicles in Eastern Europe.
Energy sector
Poland can play an active role in terms of investments of Canadian energy sector. For example, a Polish mining firm KGHM has provided one of the largest Polish foreign investments and takeovers, which took place in Sudbury (Ontario) and near Kamloops (British Columbia) [1].
Amid recent claims that Beata Szydlo’s government practices crackdown on wind energy expansion, as the key player of combating the Climate Change, Canada’s enterprises and environmental NGOs can provide support for Poland in producing Green energy based technologies [2].
Software and video game industries
In terms of software sector, Polish video game industries can boost its co-operation with Canadian video game firms, such as notable UbiSoft in Montreal, as well as the CETA agreement may provide European enterprises to expand video game market in North America. Amid recent boost of cyber-security, software firms of both countries can establish joint co-operation of protecting Canadian and Polish industries, banking accounts and software firms from hacking attacks and cyber-crimes.
Food industry
The CETA free trade agreement would eliminate tariffs to boost the exports of notable Polish apples and other fresh and frozen fruits and vegetables, concentrates and juices in a Canadian market. Canada offers Polish agricultural and farm producers a great chance to diversify export-oriented markets, such as popular french fries that are getting produced in Poland, when in parallel Polish customers can buy Canadian notable products, like maple syrup [3].
With CETA, Poland would serve as a notable bridge for Canadian investment and entrepreneurship in such countries like Ukraine. Polish colleagues can help Canadians to understand and co-operate with Ukrainians, who have similar language and customs as Polish people. In exchange, Canada would bring an opportunity for Polish exchange students and entrepreneurs to familiarize themselves with diverse set of cultures that inhabit Canada.
More information about CETA and Canada-Poland cooperation you can find on: Canada-Poland Chamber of Commerce
Photo © Anna Karahan
References:
[1] KGHM Ajax Mining Inc. [2] Jegelevicius, L. (2016), “New Polish Government under fire for crackdown on Wind Energy Expansion”. Renewable Energy Word, March 11. [3] The Comprehensive Economic and Trade Agreement between the EU and Canada: The benefits of CETA.