The new free trading agreement between the Netherlands and Canada
The Netherlands is known for its international economy. Because of its prominent position on the coast of Europe, the country acts as a gateway to Europe for many enterprises worldwide. Moreover, the relatively stable Dutch economy and the high level of the English language the Dutch master make the country attractive for business. The country is part of the European Union, which means they have a free trade agreement with most of the other countries in Europe. And soon, the country will also be in a free trading agreement with Canada! Allowing for the economy to open even more.
The new free trading agreement between the European Union and Canada is called the Comprehensive Economic and Trade Agreement (CETA). CETA describes accords about trading in goods, services, and investments (Rijksoverheid, 2022). Because of the treaty, almost all import tariffs are indemnified, making it easier for both sides to invest. Moreover, these investments will be better protected against political or legal issues. Most agreements have already been instated and are also leading to increased trading (Wiersma, 2022).
In the past, trading agreements have always led to an increase in welfare. The first trading agreements date from the 1980s and have caused significant economic growth for many countries all over the world. However, some people are unhappy with the agreements; they claim that globalization hurts the environment and allows unfair trading competition because of local regulations (Wiersma, 2022). CETA, however, wants to work sustainably. The agreement states there need to be fair rights for employees, and environmental agreements need to be complied with. Moreover, all parties reconfirmed their obligations under the international climate and environmental conventions to which they have dedicated themselves (Rijksoverheid, 2022).
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The agreement with Canada is a new reason why the Netherlands is a great place to establish your business. Are you thinking of (re)locating your business to the Netherlands? That would be a great step! Q-Business Support could help you in your journey of globalizing your business. Even though the Netherlands is used to working with companies from different countries, moving your business to a new country can still be challenging, and it is nice to have a partner to help you with aspects like local laws and regulations, cultural differences, and a language barrier.
Q-Business Support has a team of multilingual, highly skilled professionals dedicated to supporting you in implementing your business in the Netherlands. With over 25 years of experience in the financial industry, the team members are experts in listening and responding to the needs of their clients in accounting, financial reporting, legal and compliance support, to name a few. Q-Business Support creates solutions tailored to our client's needs enabling them to focus on what matters: their business growth.