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Spain: Main Effects of the CETA Agreement

Spain-Main-Effects-of-the-CETA-Agreement.jpgThe European Union (EU) and Canada have just signed the Comprehensive Economic and Trade Agreement (CETA), that will have a positive effect on the trading relations established by the two contracting entities. The agreement is applicable in all EU’s member-states, including Spain. Those who want to open a company in Spain which will deliver goods and products on the European and Canadian markets will also benefit from its provisions. Our team of lawyers in Spain can provide more details on the legal aspects implied by the new trading agreement
 

The main benefits of the CETA treaty 

 
CETA will have a positive impact on the economy of each of the EU’s member states, in the sense that the custom tariffs applicable at the moment will be reduced for a wide variety of products. Moreover, the rules and regulations will be modified in order to improve the trading relations between the contracting entities. 
 
The treaty will also have positive effects on copyright matters, as the patents originating from European Union will be protected in Canada for a longer period, which increased from 20 to 22 years. 
 
Another major point of the CETA treaty is that it will have a positive impact on the workforce available in the European Union and Canada, as the provisions of the treaty will simplify the movement of workers. Our team attorneys in Spain can offer in-depth information on the stipulations of the treaty
 

CETA’s effects on Spain  

 
The Spanish - Canadian trading relations are very well developed. At the level of 2015, Spain registered a trading surplus with Canada which had a total value of EUR 479 million. 
 
The import-export relations between the two states include the following products: 
 
pharmaceutical products;
foodstuffs;
machinery;
minerals;
vehicles.
 
The CETA stipulations aim at the denomination of products, which refers to the protection of traditionally products which are representative for each nation that is a part of the treaty. A traditional product of Spain can be sold on international markets under a specific name only in the situation in which the respective product was made in Spain
 
Under the CETA regulations, 26 Spanish products are recognised, as follows: 
 
15 types of Spanish olive oil;
manchego cheese, originated in the region of Castilla;
mahon cheese, an original product from Menorca;
la Mancha saffron;
embutido sausage from the region of Guijuelo; 
the ham from the regions of Huelva and Teruel;
salchichon and llonganisa sausages, from the region of Vic;
turron recipe, from the region of Alicante
oranges from the region of Valencia;
orange juice, from the same region. 
 
The treaty will be approved on 17 January 2017. 
 
Persons who need more details on the effects of the CETA treaty on the Spanish market are invited to contact our law firm in Spain.  
 

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