UK-Canada Trade Deal – UK OEM seeks distributors

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We are delighted to see that our two governments have successfully negotiated a UK-Canada trade deal for post-EU Exit next year.

Watch this 1 minute video from one of our mewspapers The Telegraph showing the moment of the announcement: Department for International Trade released a press release here. See below key extracts:

  • ‘The UK and Canada have today signed a trade agreement in Canada.
  • Today’s agreement secures transatlantic trade with a trading partnership worth £20 billion last year.
  • Both countries to negotiate a new, tailor-made UK-Canada trade deal in 2021.

Today’s agreement gives certainty for UK businesses exporting goods and services to Canada worth £11.4 billion. The trade deal supports British industries including automotive manufacturing and food and drink, which between them provide jobs for more than half a million people across the UK.

  • Total trade between the UK and Canada was worth £19.9 billion in the four quarters to end of Q1 2020
  • The UK will continue to be covered by the EU-Canada FTA during the transition period. This agreement will come into effect on 1 January 2021.
  • Source of statistics on trade with Canada: ONS UK Economic Accounts, Q2 2020 release.
  • Source of regional trade statistics: HMRC Regional Trade in Goods, Q2 2020 release.’

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