Ottawa - Cathy McLeod, Member of Parliament for Kamloops-Thompson-Cariboo says that as the ninth round of talks toward a trade agreement between Canada and the European Union (EU) are set to conclude, it is clear that the agreement will protect and strengthen the long-term financial security of hard-working Canadians.

“With one in five Canadian jobs dependent on trade, a trade agreement with the EU has the potential to benefit Canada enormously, with a 20 percent boost in bilateral trade, a $12 billion annual increase to Canada’s economy and almost 80,000 new jobs, and an extra $1000 for the average Canadian family,” said McLeod.

Canada and the EU have now held nine successful negotiating rounds since October 2009. Significant progress has been achieved across the board, including in the core market access areas of goods, services, investment, and government procurement.

“As we enter the next phase of negotiations, our government will continue to vigorously defend Canadian interests to ensure any agreement we conclude benefits Canadian businesses, workers and their families,” stated McLeod.

A Canada-EU trade agreement will benefit Canadian workers in many sectors of the Canadian economy, including manufacturing, aerospace, chemicals, plastics, aluminum, wood products, and fish and seafood, as well as other commodity and resource-based businesses, and many others.

“As a single market, the EU is Canada’s second most important partner for trade and investment, after the United States. Two-way merchandise trade reached $82.5 billion in 2010, up for $75 billion in 2009,” concluded McLeod.