“It is up to the Liberal government to ensure that this CETA legislation is in effect by the end of the year. If the Liberals do not, they have to explain to businesses what the trade disruptions will be. British Prime Minister Boris Johnson joined Canadian Prime Minister Justin Trudeau and their respective trade ministers in launching an online appeal to mark the agreement that paves the way for a tailored agreement covering more areas such as digital commerce, small business, the environment and women`s economic empowerment. In the video interview, which was also attended by International Trade Minister Liz Truss and her counterpart Mary Ng, Mr. Trudeau said, “We can now continue to work on a tailored agreement, a comprehensive agreement in the years to come, that will truly maximize our trade opportunities and make things better for all.” “More than ever, I think it`s really important to make sure our Canadian businesses maintain the continuity and predictability they need. That`s what this agreement will do,” Ng said after the bill was introduced. The Uk and Canada agreed on Saturday to negotiate a new bilateral trade agreement by 2021 that would pass the terms of the EU`s CETA trade agreement with Canada. “Today`s agreement strengthens trade worth 20 billion pounds and blocks security for thousands of jobs,” Liz Truss, the UK`s international trade minister, said in a statement. The agreement with Canada would be the second major trade agreement announced by Britain in less than a month, after reaching an agreement with Japan at the end of October. Meanwhile, trade negotiations are underway with countries such as Australia, New Zealand and British American companies that have celebrated the news. “The new agreement is good news for Scottish whisky exports,” a spokesman for the Scotch Whisky Association (SWA) said in principle.
They indicated that it was “aiming for fairer access for Scotch whisky to the Canadian market” through commitments on provincial board practices in Canada that restrict market access. “It is now essential that Boris Johnson and Liz Truss show the same urgency when it comes to securing the other 14 outstanding continuity agreements with countries such as Mexico, Ghana and Singapore, where total BRITISH trade of $60 billion is still under threat and time is over,” she added. When the transition period ends on 31 December 2020, the UK will no longer be bound by EU agreements with third countries, including CETA. Bilateral trade between Canada and the United Kingdom would no longer benefit from CETA preferences and would be based on World Trade Organization (WTO) rules, including the rights of the most favoured nation (MFN) on goods until the Canada-UK Trade Continuity Agreement came into force. The United Kingdom and Canada are about to sign a new trade agreement to replace the existing British agreement with EU membership. The deal would be a major boost for British Prime Minister Boris Johnson in his efforts to set a new course for Britain as a global trading nation outside the EU. An announcement is expected within days, depending on who is familiar with the subject, provided they are not identified. Goods traded between the United Kingdom and the European Union would be subject to the requirements that were normally, which were customary for products from third countries, as well as pre-compliance checks, such as duties. B customs duties, VAT, sanitary and plant health measures.