The Canada-UK Trade Continuity Agreement does not offer new opportunities for Canada- UK Trade. It simply ensures that the same terms and conditions that Canada had with the UK through the Canadian-European Trade Agreement (CETA) continue now that the UK is no longer part of the European Union.
However, this agreement must only act as a bridge until a new more robust one is put in place. Canada must urgently position for COVID recovery and greater economic security through a broader and more comprehensive Canada-UK trade agreement.
Even before COVID-19, and certainly over the last year, there has been a significant shift in the global economic balance of power. Increasingly, trade is being used as a weapon by some countries to increase their political and strategic interests. The key to defending against this and securing Canada's economic future is to minimize our vulnerabilities, by diversifying and balancing our trade, and placing greater emphasis on our relationships with countries that share our values, defence and security priorities and commitment to the rule of law. Increased trade with the UK would be a critical first step.
This is Canada’s opportunity to broaden and expand our trade relationship with the UK and further strengthen our partnership.
