Montreal to benefit from a Canada and EU free-trade agreement

Vachon was responding to an announcement by Senator Pierre Claude Nolin, in which he outlined the benefits in job creation, economic growth and long-term prosperity that would follow such an agreement.

“The lowering of often high tariffs would unleash new export opportunities for Quebec agricultural and forestry products, as well as for our commodities, seafood and other products,” said Vachon. “In return, we would have improved access to manufactured goods from Europe. As Canada’s primary gateway to and from Europe, the Port of Montreal and the maritime community would enjoy significantly more maritime traffic as a result of this ambitious agreement.”

Around two-thirds of Canada’s international trade flows through the Quebec-Ontario corridor in which the Port of Montreal is the only container port along the route. European markets already represent 41% of the port’s traffic, with containers accounting for 70% of that number.