CETA to bring huge opportunities for Romanian, Canadian businessmen to develop projects

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Freshly negotiated EU-Canada treaty – the Comprehensive Economic and Trade Agreement (CETA) will generate significant opportunities for Romanian businessmen who want to develop projects with Canadian partners.

In this context, Canadian Ambassador to Romania, Kevin Hamilton and CCIR (Romanian Chamber of Commerce and Industry) President Mihai Daraban emphasized the importance of free movement of professional and specialized workforce.

“It virtually opens to us other worldwide opportunities, because Romania’s big problem is it has remained captive to the European Union, some forward processors for the big European economy. I believe we should have the courage to get beyond the EU borders in terms of commerce, and this agreement virtually opens to us an unexpected opportunity,” CCIR’s Daraban stated a press conference, adding: “We are anyhow a bit slow when it comes to being conquerors, even beyond Romania’s borders, but especially beyond the EU borders.”

He also mentioned that with CETA coming into effect, 98 percent of tariff barriers will be repealed as well as 93 percent or rates and taxes on agri-food products.

Moreover, Daraban said that the current agricultural exchanges with Canada generate EUR 6.5 million per year in Romania’s foreign trade revenues.

In turn, Kevin Hamilton said he expects many engineers, lawyers, architects and other professionals to move towards Canada, highlighting his country’s appreciation to the intellectual environment, focusing on the idea that, starting December 2017, people can travel without a visa to Canada.

“As you may well know, farmland mapping is still ongoing. This is still quite a slow process. But we must believe in agriculture, because we have potential. Not least, the 2008-2012 economic crisis has experienced a boom thereby increasing the grain storage capacity in Romania. Just in Constanta Port, the capacity increased from about 200,000 tonnes to 1 million tonnes, thus the things are quite clear. Here, there is also potential, but it all depends on us after all. These international agreements exempt us from some tariff and customs barriers, but as regards production, we would not expect anyone to give us the solution,” Daraban said.

Asked where it is more profitable for Romanian business people to export – the European Union or Canada – CCIR official said: “Money talks!”

According to Daraban, the agreement will come into force in some weeks, after it will be ratified by each national parliament of the European Union’s 27 member states as well as by the Canadian Government.

 

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