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Commercial and Economic Relations

Commercial and economic relations between Canada and the United Kingdom are historically strong and mutually advantageous. The UK is by far Canada’s most important commercial partner in Europe and, from a global perspective, ranks third after the United States and China.  In 2010 total bilateral trade reached over CDN$27.1 billion, and over the last five years the UK has been Canada’s second- largest goods export market.

The UK is an important source of direct foreign investment, ranking third after the United States and the Netherlands, and Canadian companies invest heavily in the UK. In 2010, the two-way stock of investment stood at almost CDN$115 billion.

Canada and the UK – as members of the North American Free Trade Agreement and the European Union respectively – are working together on negotiations towards a Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union. Negotiations are due to be concluded by 2012.

Science and Technology co-operation

Canada and the United Kingdom enjoy strong partnerships in science, technology and innovation (STI) with many links between Canadian and UK researchers, universities, funding agencies, commercialization groups and companies. The research priorities of both countries have much in common and tend to concentrate resources in large, collaborative, interdisciplinary programmes that meet global societal and economic challenges such as ageing, climate change, science/green technologies, energy and food and water security. Other priority areas for collaboration include medical research, aerospace and defence, ocean technologies, nanotechnology and polar science.

 

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Date Modified:
2011-11-17