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Canada–United Kingdom Free Trade Agreement
Proposed free trade agreement between Canada and the United Kingdom From Wikipedia, the free encyclopedia
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The Canada–United Kingdom free trade agreement (CUKFTA) is a proposed free trade agreement which began negotiations on 24 March 2022.[1] The trade agreement will be the third FTA to cover Canada–UK trade, and will supersede the Canada–United Kingdom Trade Continuity Agreement, extending the deal to cover services and digital trade.[2]
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History
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Perspective
From 21 September 2017 until 30 December 2020, trade between Canada and the UK was governed by the Comprehensive Economic and Trade Agreement, while the United Kingdom was a member of the European Union.[3] Following the withdrawal of the United Kingdom from the European Union, the UK and Canada signed a continuity trade agreement on 22 December 2020, based on the EU free trade agreement; the agreement entered into force on 1 January 2021.[4][5] Trade value between Canada and the United Kingdom was worth £26,309 million in 2022.[6]
While a member of the European Union, the Canada and Britain worked together on negotiations towards a Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union.[7] The agreement has been ratified by the European Parliament and is provisionally in force since 2017.[8]
The UK left the European Union at the end of January 2020, but continued to participate in the EU's trade agreements during a transition period that ended on 31 December 2020. In November 2020, the UK and Canada signed a continuity agreement in order to apply the terms of the EU-CA agreement to their bilateral trade.[9] In March 2023, the UK concluded negotiations to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership a trade bloc of which Canada is a founding member.[10]
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Negotiations
On 25 January 2024, the United Kingdom suspended negotiations for the free trade agreement due to a standoff between the two sides on the UK maintaining market access barriers for Canada's agriculture industry.[19][20][21] This was the first, and sole, time that the United Kingdom has suspended negotiations for a trade deal since Brexit.[22]
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On the 15 June 2025 prior to the 51st G7 summit, Starmer and Canadian Prime Minister Mark Carney agreed to establish a Economic and Trade Working Group, while Carney agreed Canada would ratify the UK's accession to CPTPP.[23][24]
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See also
References
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