British Prime Minister Theresa May meets with Prime Minister Justin Trudeau in his office on Parliament Hill in Ottawa on Sept. 18 (Sean Kilpatrick/The Canadian Press)

British Prime Minister Theresa May meets with Prime Minister Justin Trudeau in his office on Parliament Hill in Ottawa on Sept. 18 (Sean Kilpatrick/The Canadian Press)

Canada, U.K. using CETA as new trade model

Long-heralded Comprehensive Economic Trade Agreement, or CETA, comes into effect Thursday

Those feeling anxious about the future relationship between the United Kingdom and the rest of the world could use a little predictability, and both Prime Minister Justin Trudeau and British Prime Minister Theresa May say Canada can help.

The two countries are working towards a new bilateral free trade deal to take effect after the U.K. achieves its so-called Brexit from the European Union, the two world leaders revealed this week.

What’s more, they said, the template for that deal would be the long-heralded Comprehensive Economic Trade Agreement, or CETA, between Canada and the EU that comes largely into effect Thursday.

“There is no question that CETA, which eliminates well over 90 per cent of all barriers to trade between Canada and the European Union … will make an excellent basis for ensuring a smooth transition in a post-Brexit world,” Trudeau told a joint news conference.

“After that, there will obviously be opportunities for us to look at particular details that could be improved upon for the specific needs and opportunities in the bilateral relationship between the U.K. and Canada.

“But as a strong basis for a smooth transition, CETA is perfectly designed, and will be able to ensure — for investors, for companies and for workers and consumers — a smooth transition.”

READ MORE: Kelowna-Lake Country MP urging companies to find out more about CETA

READ MORE: Will free trade with the EU benefit everyone in Canada?

The British prime minister agreed that using the Canada-EU agreement as the basis for a forthcoming new bilateral deal makes sense for everyone.

“We want to ensure that for businesses and individuals, that there is as smooth a changeover, when the United Kingdom leaves the European Union, as possible; we want to see as little disruption to economies and to people’s lives,” said May.

“That’s why we believe it makes sense to take the trade agreement — which the U.K. is part of, it’s part of the European Union — with Canada, and say that that is the basis at that point at which we leave for a bilateral relationship with the U.K. and Canada.”

May said she has already discussed the approach with the European Union.

The Canada-EU trade deal took seven years to come together — including some tense eleventh-hour negotiations with Wallonia, a tiny region of Belgium that ended up holding a deal-killing veto over the pact — but Trudeau suggested things would move more quickly this time.

“Within the European Union, the U.K. is the largest trading partner that Canada has, so the U.K. was deeply involved throughout those negotiations towards CETA, obviously, over the past seven years,” Trudeau said.

“It will form the basis for the way we move forward in a post-Brexit Europe.”

May also spoke of working “swiftly.”

The U.K. is Canada’s fifth-largest merchandise trade partner, amounting to more than $25.3 billion in both directions last year.

The trade deal, however, was not the only headline-making development out of May’s first official visit with Trudeau, who took the opportunity to ramp up his government’s fight with U.S. aerospace giant Boeing.

The Liberal government, Trudeau said, won’t do business with a company he accuses of attacking the domestic aerospace industry and trying to put people out of work.

Boeing launched a trade dispute with Montreal-based rival Bombardier earlier this year.

May also has a stake in the dispute, as Bombardier has a factory in Northern Ireland.

The two leaders met Monday ahead of Trudeau’s trip to New York to address the United Nations General Assembly, where May will also be speaking this week, including on ways to curb the use of the Internet by terrorists.

Joanna Smith, The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Oliver Municipal Aiport runway will be extended in spring 2021. (Oliver Municipal Airport / Facebook)
Oliver airport runway to be extended

The extension will be funded through a provincial grant

Butter and sourdough bread is shown at a house in Vernon, B.C. on Wednesday, February 24, 2021. A Quebec dairy farmers’ group is calling on milk producers to stop feeding palm oil or its derivatives to livestock as controversy churns over how these supplements affect the consistency of butter. (THE CANADIAN PRESS - Jesse Johnston)
Poll: Care to spread your feelings on butter?

Reports of hard butter have rattled the Canadian dairy industry

A dose of COVID-19 vaccine is prepared at a vaccination clinic in Montreal’s Olympic Stadium on Tuesday, Feb. 23, 2021. THE CANADIAN PRESS/Paul Chiasson
39 new cases of COVID-19 in Interior Health region

The total number of cases in the region since the pandemic began is now at 7,334

BC Housing has proposed that the emergency winter shelter at Victory Church at 352 Winnipeg Street be extended as a shelter until March 31, 2022. It was originally intended to be open until April 1, 2021. (Jesse Day - Western News)
One more year of ‘temporary’ homeless shelter in Penticton?

BC Housing has applied to extend Victory Church as a shelter for those experiencing homelessness

The Wrong Turn Tavern in Keremeos is for sale. (Facebook)
Popular Keremeos tavern up for sale

Owner Liza Sanders is selling The Wrong Turn Tavern for $800,000

Abbotsford’s Kris Collins turned to TikTok out of boredom when the provincial COVID-19 lockdown began in March 2020. She now has over 23 million followers on the video app. Photo: Submitted
Internet famous: Abbotsford’s Kris Collins is a TikTok comedy queen

Collins has found surprise stardom alone with a phone

RCMP. (Phil McLachlan/Capital News)
Chase RCMP arrest intoxicated man running into highway traffic

The man was wanted on several warrents in Alberta; was held overnight but released

Nanaimo children’s author and illustrator Lindsay Ford’s latest book is ‘Science Girl.’ (Photo courtesy Lindsay Ford)
B.C. children’s writer encourages girls to pursue the sciences in new book

Lindsay Ford is holding a virtual launch for latest book, ‘Science Girl’

Pig races at the 145th annual Chilliwack Fair on Aug. 12, 2017. Monday, March 1, 2021 is Pig Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Feb. 28 to March 6

Pig Day, Canadian Bacon Day and Grammar Day are all coming up this week

Staff from the Marine Mammal Rescue Centre, passersby, RCMP and Nanaimo Fire Rescue carried a sick 300-kilogram steller sea lion up the steep bluff at Invermere Beach in north Nanaimo in an attempt to save the animal’s life Thursday. (Photo courtesy Marine Mammal Rescue Centre)
300-kilogram sea lion muscled up from B.C. beach in rescue attempt

Animal dies despite efforts of Nanaimo marine mammal rescue team, emergency personnel and bystanders

Doctors and counsellors warn of an increase in panic attacks, anxiety, depression and suicide ideas between ages 10 to 14, in Campbell River. ( Black Press file photo)
Extended pandemic feeding the anxieties of B.C.’s youth

Parents not sure what to do, urged to reach out for help

Kara Sorensen, diagnosed with lung cancer in July, says it’s important for people to view her as healthy and vibrant, rather than sick. (Photo courtesy of Karen Sorensen)
B.C. woman must seek treatment overseas for inoperable lung cancer

Fundraising page launched on Karen Sorensen’s behalf, with a goal of $250,000

Gina Adams as she works on her latest piece titled ‘Undying Love’. (Submitted photo)
‘Toothless’ the kitty inspires B.C. wood carver to break out the chainsaw

Inspired by plight of a toothless cat, Gina Adams offers proceeds from her artwork to help animals

B.C. Finance Minister Selina Robinson presents bill to delay B.C.’s budget as late as April 30, and allow further spending before that, B.C. legislature, Dec. 8, 2020. (Hansard TV)
How big is B.C.’s COVID-19 deficit? We’ll find out April 20

More borrowing expected as pandemic enters second year

Most Read