Economic Cooperation with Canada
Bilateral economic relations are good and free of complications. This is in no small part attributable to the work of the Canadian German Chamber of Industry and Commerce, which has its headquarters in Toronto, a branch office in Montreal. Canada and Germany experienced a stagnation of cooperation during the economic crisis (2008 – 2010) , but trade has picked up again. Canada is exporting raw materials, machines, vehicles and chemical products to Germany, which is one of its ten most important trade partners. In 2012, the export of German goods to Canada increased by 20%. Germany exported for instance vehicles, machines, electronic instruments and chemical products.
A Framework Agreement for Commercial and Economic Cooperation has been in force between the EU and Canada since 1976, an accord on cooperation in science and technology since 1995 and an air transport agreement since 2009. A comprehensive economic and trade agreement (CETA) has been decided upon in 2013.
A double taxation agreement that has been in place between Canada and Germany since 2002 is currently under review.