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CME-NL urges province and feds to agree on fishery fund’s terms

St. John’s, NL: The Newfoundland & Labrador division of Canadian Manufacturers & Exporters (CMENL) is urging the federal and provincial governments to redouble their efforts to finalize the terms of the fishery fund following comments yesterday by Premier Davis that without agreement, the province would have to reconsider its support for the free trade agreement with Europe. While negotiations concluded last fall, the Comprehensive Economic Trade Agreement (CETA) with the European Union is still subject to ratification.

“Preferential access the EU market will open up new opportunities for Newfoundland & Labrador’s exports, including seafood and other manufactured goods,” says David Haire, Vice President, CMENL.

“Europe is the world’s largest market and after the United States, Newfoundland & Labrador’s second largest export destination. Increasing our exports to Europe will contribute to the diversification and strengthening of our provincial economy.”

Haire added that both levels of government worked hard to ensure a successful negotiation of the historic trade deal, recognizing the tremendous opportunity it presents both for the country and the province. “The uncertainty around the fishery fund is unfortunate, but ultimately we are optimistic that the spirit of collaboration demonstrated throughout the negotiations will prevail and an agreement will be reached.”

About CME-NL

Canadian Manufacturers & Exporters (CME) is Canada’s largest trade and industry association, and the voice of manufacturing and global business in Canada. Founded in 1871, CME represents more than 10,000 leading companies nationwide, and – through various initiatives, including the establishment of the Canadian Manufacturing Coalition – touches more than 100,000 companies from coast to coast, engaged in manufacturing, international trade, and service-related industries.

As the provincial division, CME-NL represents the needs of businesses engaged in all aspects of manufacturing and exporting throughout Newfoundland & Labrador. Its mission is to promote the competitiveness of our province’s manufacturers and exporters in local, national and global markets.

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