CFO Welcomes EU Trade Agreement for Fleet Newbuildings
The Canadian Ferry Operators Association (CFOA) voiced its support for the agreement in principle on a comprehensive trade agreement between Canada and the European Union. Under the Comprehensive Economic and Trade Agreement (CETA), the current Canadian tariff of 25% on ferries shorter than 129 metres will be eliminated over a period of 7 years.
"We applaud the Harper governments efforts in establishing a free trade agreement with the European Union," said Serge Buy, CEO of CFOA. "Our sector is investing $2.3 billion in fleet renewal over the next five years, and the elimination of this tariff will support our ferry operators as they continue to provide vital economic connections for Canadians across the country."
Ferries form an essential part of Canadas transportation infrastructure and ferry operators make key contributions in driving Canadas economy. Last year, CFOA ferry operators:
- Connected people and markets across the country by transporting nearly 40.7 million passengers and over 14.8 million vehicles;
- Contributed to Canadas economic growth by employing more than 8,400 Canadians, helping generate more than 22,600 jobs and by maintaining operating budgets of over $1 billion;
- Provided essential transportation services and vital links to Canadas remote communities by operating more than 180 ferries on over 120 routes;
- Continued to provide a safe and environmentally friendly means of transportation by investing in cleaner technologies and more efficient vessels, and by contributing to a noteworthy industry safety record.
The Canadian Ferry Operators Association is the national voice of ferries in Canada whose members, they hold, operate with the highest professional and operational standards and promote the safe operation of ferry services in Canada.