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Trade Agreements Between Canada And Belgium

2028 words - 9 pages

Trade Agreements between Canada and Belgium

Economic and Trade Relations

Belgium is Canada’s 12th export destination with $873 million and is also the 19th country regarding imports with $776 million. Canadian exports to Belgium amounted to $2.3 billion in. The major entry point in trading goods between Canada and Europe is the Port of Antwerp.

In 2013, Canada and the European Union (EU) reached a trade agreement. Prime Minister Stephen Harper announced that the trade agreement will boost trade and investments between the two countries, as well as creating employment opportunities for many Canadians. This agreement covers most aspects of the Canadian and EU economic relationships, including trades in goods and services and also investments. Prime Minister Stephen Harper stated that, “This trade agreement is a historic win for Canada. It represents thousands of new jobs for Canadians and a half a billion new customers for Canadian businesses”.

This agreement provides Canada with access to 500 million different consumers in the EU. Canadian workers benefit from the increase of access to the EU’s market which currently makes $17 trillion annually. The deduction of 98% of the tariffs in the EU will increase profits for Canadian businesses all over Europe. An example of this is the elimination of tariffs in agriculture and fish, which means that seafood such as lobster, producers of maple syrup in Quebec, and growth of fruits in Ontario and British Columbia will see an improvement in their profits. Making trade negotiations with the EU has been the most collaborative trade agreement Canada has ever made.

Partnership or Joint Venture between a business in Belgium and a Canadian Business

Beverage Partnerships Worldwide (BPW): Coca-Cola Nestlé Refreshment Company

BPW started in 1991 as ‘Coca-Cola Nestlé Refreshment Companies’. In 2001, it was renamed as Beverage Partnerships Worldwide. Six years later it focused on developing ready-to-drink canned and bottled tea, now commonly known as Nestea. Five years later, BPW held a campaign to encourage their customers to “Start Something Different” with Nestea. The campaign comprised of mainly television commercials. A year passed and they all decided to have most of their operations within Europe, Australia, Taiwan, Hong Kong, and of course Canada! Both Coca-Cola and Nestlé are partners in this joint venture. After, in 2013, BPW ran a competition to create films about Nestea. They received videos from over 140 different countries around the world. This was a way for the company to advertise their products as well as getting people involved. Nestle products are sold all over Canada today and can be found in places such as food courts, amusement parks, and in restaurants.

Chocolate Partnership: Godiva Chocolatier

Godiva was founded in 1926 (approximately 80 years ago in Brussels, Belgium). A master chocolatier named Joseph Draps founded the company and was introduced to America in 1966. The company...

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