Ireland–Canada Business Association calls for Ireland to complete ratification of CETA as Canada and EU set out plans for significantly deeper economic and strategic ties
The Ireland Canada Business Association (ICBA) has welcomed proposals for a major deepening of relations between Canada and the European Union, describing them as a significant opportunity for Ireland to strengthen its role as a bridge between Canada and Europe.
European Commission President Ursula von der Leyen used her State of the Union address to propose moving “from CETA to an Alliance for the Future” and opening the door for Canada to become the first “associate member” of the European Union.
Addressing the European Parliament in Strasbourg today, Canadian Prime Minister Mark Carney welcomed that ambition and set out a vision for much deeper economic, security and strategic cooperation between Canada and Europe.
Prime Minister Carney said the proposed Alliance for the Future could encompass critical minerals, defence industrial capacity, artificial intelligence and computing, energy security, space and payments. He also proposed moving towards seamless digital trade in non-agricultural goods and a wide range of services, closer mobility between Canada and Europe, Canadian participation in Erasmus+ and the next generation of Horizon, and potentially greater integration of financial services.
He argued that the changing geopolitical environment makes greater economic resilience and diversification essential, saying the objective should not be self-sufficiency but “collective resilience”.
Prime Minister Carney said: “Canada and Europe are each strong. Europe and Canada are stronger together.”
He described the strengths of the two economies as highly complementary, highlighting Europe’s market scale, research, advanced manufacturing and industrial base alongside Canada’s energy resources, critical minerals, expertise in AI and quantum technologies, financial system and pension capital.
Dr Deirdre Giblin, Chair of the Ireland–Canada Business Association, joined Ambassador Dennis King, members of the Embassy team, and CEOs and senior business leaders from companies with Canadian interests at the Embassy of Canada in Dublin to watch a live stream of Prime Minister Carney’s address.
Speaking following the address, Dr Giblin said:
“President von der Leyen’s proposal, together with Prime Minister Carney’s address to the European Parliament, represents a potentially historic development in the relationship between Canada and the European Union.
“What is particularly significant for business is the scale and breadth of the ambition now being discussed. This goes beyond trade. We are talking about closer cooperation in energy, critical minerals, technology, artificial intelligence, financial services, research, digital trade and the movement of people between Canada and Europe.
“For businesses operating between Ireland and Canada, that creates potentially significant new opportunities. Canada offers Europe a trusted partner with major strengths in many of the strategic areas Europe needs to develop, while the European Union offers Canadian businesses access to one of the world’s largest markets.
“Ireland is especially well positioned to play an important role in this next phase of the relationship. Our countries share deep historical and cultural connections, strong commercial relationships and a common commitment to democracy, multilateralism and open, rules-based trade. Ireland’s Presidency of the Council of the European Union gives us an important opportunity to help advance this relationship.”
The ICBA also called for Ireland to complete its national ratification of the Comprehensive Economic and Trade Agreement between Canada and the European Union.
CETA has been provisionally applied since September 2017, with most of the agreement already in operation. Full implementation requires ratification by all EU member states.
Prime Minister Carney described CETA in his address as “one of the world’s most successful trade agreements” and said the proposed Alliance for the Future should build on the existing Canada–EU relationship.
Dr Giblin continued:
“As discussions begin about taking the Canada–EU relationship to an entirely new level, Ireland should complete its ratification of CETA.
“CETA provides an important economic foundation on which a wider Alliance for the Future can be built. The ICBA strongly supports its full ratification and urges the Irish Government to take the steps necessary to complete Ireland’s ratification of the agreement.
“At a time when Ireland holds the Presidency of the Council of the European Union, doing so would be a meaningful demonstration of Ireland’s commitment to Canada, closer transatlantic cooperation and rules-based international trade.
“The ICBA looks forward to working with the Irish and Canadian governments, the Embassy of Canada in Dublin, the Irish Embassy in Ottawa and our members to help turn this new political ambition into practical opportunities for trade, investment and collaboration.”