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CANADIAN SEAFOOD INDUSTRY WELCOMES UK TRADE DEAL

CANADIAN SEAFOOD INDUSTRY WELCOMES UK

Canadian seafood industry welcomes UK trade deal. The Fisheries Council of Canada (FCC), on behalf of our members in the wild-capture commercial fish and seafood industry, says it applauds the governments of Canada and the United Kingdom for reaching a transitional trade deal ahead of the Dec. 31, 2020 deadline. The new transitional trade deal will ensure that Canadian seafood products will continue to enjoy tariff-free access to Britain.

“The Canadian fishing industry values its trading relationship with the United Kingdom as our fifth largest importer,” said Paul Lansbergen, President, FCC. “A free and open trade agreement between our two countries plays a significant role in the economies of our nations.”

The UK is our fifth largest single country export market, totalling $131 M in 2019. Top product grouping exports to the UK are salmon (35%), shrimps and prawns (26%), lobsters (25%), and scallops (5%). The importance of the UK market to individual companies can be significant.

If the two governments had not reached this transitional agreement, Canadian fish and seafood exports would have faced increased tariffs. Based on FCC’s own analysis using 2019 export data, the applicable proposed tariffs would have added roughly $11 M CAD on the top four product groupings mentioned above. This would represent an average tariff rate of nearly 10 per cent and would have put Canadian products at a distinct disadvantage to other countries.

“I urge all Parliamentarians to swiftly ratify this agreement so that it can go into effect by January 1, 2021,” said Lansbergen. “Canadians working in the fisheries sector supply chain will thank you.”

 

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