October 2, 2022

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Sace, CETA turns 5: exports to Canada reach 4.8 billion euros in 2021

(Teleborza) – Last year, Italian exports to Ottawa reached 4.8 billion eurosIndicates the average growth rate
Year, between 2017 and 2021 5.5%, More than one percentage point above Made in Italy’s performance towards the world. During the same period, Canada moved up four places to become our 10th largest outside the EU. there
Italian market share in the country also rose from 1.03 to 1.16. Partial data for this year also confirm this good trend:
+ 28.8% for our exports in the first half compared to the same period in 2021. this,SACE Research Department
In Statement “Happy Fifth Birthday CETA!” Five year balance sheet Comprehensive Economic and Trade Agreement (CETA) Between Canada and the European Union.

It came into force on 21 September 2017 CETA – Reads the statement – ​​a New generation contract It not only eliminates almost all duties on goods, but also protects preferential market access for services and cooperation between signatories. Public tenders and movement of workers.

The good effects of CETA – notes SACE – are confirmed by the analysis of the application of the preferential regime provided by the agreement. Priority Utilization Rate (PUR) – Calculated by the Trade DG of the European Commission – It represents the share of goods actually exported (imported) under the CETA regime in total exports (imports).
To benefit from it. Indeed, tax reductions are not automatically applied once an international agreement enters into force
But subject to compliance with certain requirements, among all rules of preferential origin, defines a good situation
Considered to be manufactured in one country and therefore benefit from the use of special transfer agreements.

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About 60% of Italian products are imported from Canada (corresponding to 3.7 billion euros in 2020) subject to zero tax
According to Most Favored Nation (MFN), On the other hand, the rest are allowed under the CETA preferential regime. In
2020 (latest data available) Italian goods actually exported under the CETA regime equaled €1.5 billion,
As a result a PUR 69.1%than European products (55.2%) and has been growing for years
The former but with room for improvement. Rates above 80% are seen for sectors such as processed food products.
Ceramic tiles and glass and stone work; For important import sectors from Italy like textiles and clothing, footwear
and means of transport, the PUR is decidedly lower, around 65%. This – the report explains – may reflect the fact that for relatively well-monitored supply chains such as food, proving priority origin is less burdensome; Conversely, for more fragmented supply chains characterized by a high incidence of imported production inputs, meeting demand can be more complex.

Only exports of goods have benefited from this agreement 2018 is the first full year of CETA application– Underline SACE – Registered Significant flow of Italian direct investment into Canada (annual average, 500 million euros between 2018 and 2021 compared to 153 million in the period 2014-2017); Foreign direct investment reached 4.5 billion euros last year. Furthermore, the facilities granted to European companies to access tenders and invest in this market continue to offer important opportunities in light of the infrastructure projects the country is promoting, for example Quebec 2022-2032 worth 142.5 billion dollars.

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