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Summary of Treaty


GENERAL DATA
Official Title Framework Agreement for commercial and economic cooperation between the European Communities and Canada
Type of Agreement Bilateral
Place of Signature Ottawa
Date of Signature 06/07/1976
Date of Entry Into Force 01/10/1976
Duration Indefinite
Objective of Agreement To strengthen their relations and to contribute together to international economic cooperation.
Remarks Non-preferential agreement. It is the first formal agreement of its kind between the EEC and an industrialised third country. Under this 1976 Framework Agreement for Commercial and Economic Co-operation, Canada and the EEC committed "to develop and diversify their reciprocal commercial exchanges and to foster economic co-operation". Since then, the EU and Canada have concluded several agreements covering a wide range of economic activities ranging from fisheries and wines and spirits to veterinary issues, atomic energy and nuclear research as well as customs co-operation. After the United States, the EU is Canada’s most important trading partner, while Canada rank 9th among the EU’s trading partners. The EU and Canada are committed to build on these strong economic ties. To this end, the EU and Canada are working on a new bilateral trade and investment enhancement agreement. This agreement (known as the ‘TIEA’) will address new challenges and opportunities for trade and investment between two open and developed economies in the 21st century. In particular, it will tackle the significant impact of regulatory barriers in bilateral trade and investment and pay due consideration to the increasingly prominent role of investment in the bilateral economic relationship. The TIEA will also reinforce the well-established partnership between the EU and Canada in the pursuit of common objectives, notably to liberalise trade based on a strong multilateral rules-based system. It will also reflect the EU’s and Canada’s shared commitment to promote sustainable development, cultural diversity, and co-operation in the field of science and technology. European and Canadian leaders approved the scope and main objectives of the TIEA at their Summit in Ottawa on 18 March 2004 with a view to launching formal negotiations soon thereafter.
OJ Reference L260, 24/09/1976, p. 2
Depositary Council of the European Union
Contracting Parties European Atomic Energy Community, European Economic Community, Canada
Authentic Texts Danish, Dutch, English, French, German, Italian
Subject Matters External Relations
North America
Management Joint Cooperation Committee (Article IV) assisted by ad hoc sub-committees
EU PARTICIPATION
Conclusion Decision Commission Decision, of 17 September 1976, on conclusion of the commercial and economic cooperation framework agreement between the European Communities and Canada; OJ L260 of 24/09/1976, p.22
Competence Exclusive
Legal Basis Treaty EAEC: Article 101
Treaty EEC: Article 235
Treaty EEC: Article 113


Last Update :   04/12/2008