The 17th Canada-European Union Summit closed in the Canadian city of Montreal on Thursday with the signing of Canada-EU Oceans Partnership in protecting oceans, combatting ocean plastic waste and marine litter, and fighting the climate crisis.
In addition, Canada has signed a renewed agreement to deepen its participation in EU Election Observation Missions and better support free and fair elections around the world.
Canada has agreed to join the Venice Commission - the Council of Europe's advisory body on constitutional matters as a full member, to contribute to the commission's independent expert constitutional advice to countries in Europe and beyond.
At the summit, Prime Minister Justin Trudeau announced that Canada will allocate up to 50 million Canadian dollars (about 38 million U.S. dollars) over the next five years to support Canadian participation in international teams applying for funding through the EU's Horizon 2020 and Horizon Europe. These programs encourage research and innovation, stimulate economic growth, and create new jobs and opportunities.
During the two-day summit, Trudeau, European Council President Donald Tusk and European Commission President Jean-Claude Juncker discussed how Canada and the EU are working together to build economies that benefit everyone and strengthen the middle class in Canada and the EU. They also exchanged views on how Canada and the EU can work more closely together to reform the World Trade Organization and advance rules-based international trade.
Trudeau and Tusk highlighted the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which Trudeau said offers a blueprint for future trade deals around the world.
They also discussed the Strategic Partnership Agreement, signed together with CETA, which is strengthening ties and deepening cooperation between Canada and the EU.
The EU is Canada's second largest trade and investment partner and an ally on many foreign policy and international security issues.
CETA was signed in October 2016 and came into force in September 2017, giving Canada preferential access to the EU's more than 500 million consumers. With CETA, 98 percent of EU tariff lines are now duty-free for Canadian goods.
In 2018, Canadian exports to the EU were nearly 44.5 billion Canadian dollars (about 34 billion U.S. dollars), up seven percent over 2017.
