The European Parliament has today given its consent to the EU-Canada Comprehensive Economic and Trade Agreement (CETA), which confirms the support of all EU institutions for the CETA agreement.
International trade is a key driver of growth, jobs and competitiveness for the research-based pharmaceutical sector in Europe. This underpins our industry’s mission to develop life-saving innovative treatments for patients, which is why the pharmaceutical sector supports the CETA agreement.
We believe that the implementation of CETA will represent a positive step forward in levelling the playing field of European pharmaceutical companies trading, investing and researching in Canada. CETA provides for tangible improvements in Canada’s intellectual property framework, bringing it closer to that of the EU and also other OECD economies. We believe that, if implemented in line with the letter and the spirit of the agreement, CETA will contribute to better IP protection, enabling access to innovative medicines and vaccines, and fostering research for the cures of tomorrow. This will benefit patients in Europe, Canada, and worldwide.
Furthermore, CETA represents a important opportunity to open new global opportunities for European businesses, both large and small, and sets high standards in negotiating high-quality, cutting-edge free trade agreements between developed countries.
EFPIA Director General Eric Cornut said: “The CETA affords the opportunity for Canada and the EU to move towards a level-playing field in the development of new medicines. We support the agreement and look forward to its swift and effective implementation.”