Premier Says New Brunswick Will Benefit From European Free Trade

Posted on Friday, February 17, 2017 12:53 PM

Even though it was a mere formality, the provincial budget has been passed in the legislature on a voice vote.

Premier Brian Gallant closed off debate on the budget and  took the opportunity to praise the passage of the Canada-European free trade agreement.

He says it will be good for the New Brunswick economy since Europe is the province's second largest trading partnet behind the U.S.

New Brunswick’s principal exports to the EU include fish and seafood products with an average value of $45.7 million over the last three years.......Forestry products at $37 million annually over the last three years as well as metal and mineral products averaging $83.7 million over the last three years.

Aquaculture and Fisheries Minister Rick Doucet says as far as fish and seafood are concerned, almost 96 per cent of E-U tariff lines will be duty-free when the agreement takes effect. After seven years, 100 per cent will be duty-free thereby making them more competitive.