Canada is open for business
A group of like minded foodies met at the Canadian High Commission last week under the banner of the Fifty Twenty Group. This group is made of key industry food, beverage operators and suppliers ranging from the originator of Wagamamas, to leading industry wine suppliers and other recognised high street branded food operators. They all gathered at the Canadian High Commission to hear a talk from legendary restaurateur Luke Johnson who recently floated Patisserie Valerie amongst other plaudits. This event is a monthly gathering in different venues around London and is a great opportunity to network and meet some serious foodies. The team from Canada House hosted the event which gave them an opportunity to explain to this auspicious audience the benefits of using Canadian produce and trading with this wonderful country.
With the Canada-EU Comprehensive and Economic trade Agreement (CETA) coming down line, the tariffs on products such as fish and seafood, bison, wine will disappear either from day one or be phased out over a period of up to 7 years. For bison, as an example, there will be immediate duty-free in-quota access for 3,000 tonnes carcass weight of Canadian bison and for wine the EU tariffs on Canadian red and white wines, including ice wine, will be eliminated as soon as the agreement comes into force – EU tariffs for bottled wine range from 13.1 Euros/hectolitre (for certain wines, including ice wine) to 32 Euros/hectolitre (for certain sparkling wines). And we mustn’t forget maple syrup where the duty of 8% will come off from day one.
There are some interesting trends emerging within Canada in the food service. Canada is open for business to food service and restaurant operators with frameworks and agreements firmly in place:
Doing business in Canada
Investment team which is there to help
- Canada-European Union Comprehensive
- Economic Free Trade Agreement (CETA)
How will CETA benefit EU importers of Canadian fish and seafood products?
When CETA comes into force, almost 96% of EU tariff lines for fish and seafood products will be duty-free. Seven years later, 100% of these tariff lines will be duty-free
Current EU tariffs for fish and seafood average 11% and can be as high as 25%
Continued access to reliable supply of high-quality, sustainable fish and seafood products from the cold, clear waters of Canada.