Croatian Exports to Canada Doubled in First Nine Months of 2018

By 16 January 2019

As Lucija Spiljak/Poslovni Dnevnik writes on the 16th of January, 2019, the Republic of Croatia was the third EU member country to ratify the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union in 2017, opening up new opportunities for both Canadian and Croatian entrepreneurs and innovators, as well as promoting and increasing trade and economic development. Owing to that, Croatian exports to Canada doubled in 2018.

In addition to the abolition of customs duties for more than 98 percent of goods, according to data from the Croatian Chamber of Commerce (HGK) and state statistics, in the first nine months of last year, Croatian exports to Canada doubled to almost 80 million dollars.

This encouraging information was stated at Zagreb's Sheraton Hotel when marking the first anniversary of the implementation of the CETA agreement, in which Canada's Geoff Regan participated. The gathering at the Sheraton was organised by the Canadian Embassy and the Canadian-Croatian Business Network (CCBN).

As the President of the Croatian Chamber of Economy Luka Burilović pointed out, tariffs were abolished on some of the most important Croatian exports - food and pharmaceuticals.

"The possibilities are numerous and Croatian companies need to be proactive in taking advantage of all the advantages now offered by the Canadian market," Burilović stated.

The CETA agreement brings some enormous savings to entrepreneurs, and they are estimated at about 600 million euro. In addition to the abolition of tariff items, this agreement is an instrument for growth and a tool to promote European values, thus contributing to the betterment of everyone.

In addition to the Canadians wanting to invest in Croatia, an increase of over 25 percent of visits made by Canadians to the Republic of Croatia was recorded last year.

On the occasion of the gathering and the welcome news about Croatian exports to Canada, Croatian Parliament Speaker Gordan Jandroković also mentioned NATO, whose role was significant in the development of Croatian-Canadian relations because that way, as he stated, Croatia and Canada recognised and respected each other.

"The CETA agreement shows how states can help each other and contribute to their economies," Jandroković pointed out.

Geoff Regan of Canada's House of Representatives, said that Canada wants to increase its trade and investment with EU countries, including Croatia, which, he said, is an important trading and investment partner. He also mentioned that according to unofficial estimates in Canada there are 300,000 people there with Croatian roots, so the Croatian diaspora contributes to the strengthening of economic relations between Canada and Croatia.

"The comprehensive economic and trade agreement between Canada and the European Union is an important tool to help increase trade and investment with EU countries. By ensuring that businesses and people can maximally use the opportunities for increased trade that CETA will help to achieve, Canada and EU countries will establish lasting foundations based on a growing relationship which will contribute to our common progress,'' Regan concluded.

The 27th anniversary of Croatia's international recognition and Croatia's diplomatic recognition from Canada were also marked at the gathering in Zagreb.

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Click here for the original article by Lucija Spiljak for Poslovni Dnevnik