Canada and Britain have reached a trade deal to allow up to 20 billion dollars worth of trade between the two countries. This news comes after fear that a soon-to-be Brexit United Kingdom would be unable to sign a deal before the end of the year.
This deal has wide ranging implications for exports from Canada, as the UK is our 5th largest trading partner. There is a sense of relief that we will continue to trade freely with the United Kingdom.
For small farmers the new deal is not without merit, the new incentives being placed on small farms and agri-businesses exports could become a viable source of income for small farmers and agri-businesses alike. Canada’s exports have a significant portion comprised of meat and produce, producers working with agencies such as CanExport may be able to fill the need or compete in the organic/specialty market.
Selling local will remain the key to profits in the near future, but as CanExport grows and as Britain is forced to look away from Europe for their essential needs, Canadian produce may become more appealing. It will be important to keep a close watch over the United Kingdom’s import needs in the coming years.