Following extensive negotiations and heated discussions, the European Union and Canada have signed CETA, a European-Canadian free trade agreement, on 30 October 2016. The agreement implies comprehensive simplifications for trade and customs. However it has been highly controversial due to economic, democractic and labour right provisions.
The aims of CETA
- Provide companies simplified access to the other market by lowering trade and customs barriers
- Warrant fairer trade, better quality and transparency by introducing homogenous norms and standards
- Boost economic relations and employment by exploiting new market opportunities
- Offer consumers a greater selection of goods and lower prices by liberalising trade and intensifying competition
New opportunities for Kampmann
CETA provides easier access to the North American market and multiple new opportunities. Fortunately for the Kampmann GmbH, CETA will come into force just a few months after the establishment of Kampmann Heating, Cooling, Ventilation Ltd., a subsidiary in Vancouver. Already in 1982 the company started exporting overseas, however the new branch in Canada warrants faster and better care for local clients.
The Kampmann GmbH is confident that the agreement will contribute to fairer world trade as technical standards will be raised to higher levels for enhanced comparability. Ultimately this will lead to improved quality for clients.
Kampann's team is not concerned of intensified competition resulting from freer trade. This is because they are not focusing on mass-produced goods but on individualised customer-centric solutions in close consultation with the client.
CETA in Canada, TTIP in the USA
For the same reasons than aforementioned, the Kampmann GmbH is hopeful that another free-trade and investment protection agreement, the Transatlantic Trade and Investment Partnership (TTIP), currently under strong debate between the United States of America and the European Union, will also be approved. Kampmann regards it both as a challenge as well as an opportunity for exports. However in view of recent political restructurings it is to be seen whether an agreement can be reached. After the victory of Donald Trump in the US elections the negotiations about TTIP are insecure.