Europe

Why Europe Is Important to British Columbia

• Europe is the world’s largest trading bloc, accounting for one-fifth of global imports and exports.
• In 2007, Europe generated 30 per cent of the world’s nominal gross domestic product (US$16.6 trillion).
• Europe is British Columbia's third-largest export market and fourth-largest trading partner ($4.9 billion in goods in 2007). With a market of close to 500 million consumers, the region provides tremendous opportunities for exporters.
• Europe is also the world’s leading source of foreign direct investment and Canada’s second source of foreign direct investment after the United States. In 2006, European foreign direct investment in Canada reached a record level of 120 billion euros.

Highlights of British Columbia-Europe Relations

• Clean Tech: Europe has been a front-runner in developing alternative energies and green building technology. European companies are noticing the opportunities in B.C. resulting from the Province’s climate change policies.
• Tourism: Over half a million Europeans visited British Columbia in 2007, a 4.9 per cent increase over the previous year.
• Olympics: Strong links exist between B.C. and European host cities of the previous Winter Games in Turin, Italy and the next Summer Olympics in London (2012).
• Gateway: Several European companies are involved in major infrastructure projects around the province. European ports are leaders in automating container terminals with innovative technologies that can be applied in B.C.

More on British Columbia-Europe Relations

• B.C.-Germany Trade Facts
• B.C.-France Trade Facts
• B.C.-United Kingdom Trade Facts

More Information on Canada and Europe

• Canada-Europe Relations are covered on the Mission of Canada to the European Union website.
• The Canada-Europe dialogue covers all areas of co-operation and includes regular expert-level Canada-Europe meetings, meetings of officials and ministerial meetings. The culmination of these discussions is the twice-yearly (once per rotating Europe presidency) Canada-Europe Summit.
• A Canada-Europe joint study on a closer partnership has been drafted. The study examines how various forms of trade liberalization would impact both economies in anticipation of negotiations at the next Canada-EU Summit.
• Framework Agreement for Commercial and Economic Co-operation (1976).
• Various agreements such as on Science and Technology (1996), Higher Education and Training (1995, 2000), Competition Co-operation (1999), Wine and Spirits (2004).
• Bilateral Framework on Regulatory Co-operation and Transparency (2004).
• High-level bilateral consultations in various sectors like energy, the environment and fisheries.
• Canada signed a free trade agreement with the European Free Trade Association, whose members are Iceland, Norway, Switzerland and Liechtenstein. Legislation to implement the agreement is before Parliament and if the treaty is ratified before the end of April 2009, the agreement could come into force July 1, 2009.