CETA to strengthen trade ties between Canada, Hungary

Telco

The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is expected to strengthen trade ties between the two countries when it comes into effect in 2016, Canadian ambassador Lisa Helfand told a local business chamber in Eger, northeastern Hungary, yesterday.

The ambassador expects CETA to improve trade in goods and services between the two countries, while, at the same time, boosting FDI. She added that more than US$11 bln in FDI has already arrived in Hungary from Canada.

Some 98% of trade between Canada and the EU will be duty-free under CETA. The agreement is expected to boost trade between partners by more than 20%.

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