EU, Canada strike landmark historic free trade accord

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Brussels — The EU and Canada signed a free trade accord Friday after four years of 
tough talks, saying it will boost growth and set the stage for others, including a massive 
EU-US deal.Canadian Prime Minister Stephen Harper hailed it as the biggest (trade) deal our 
country has ever made while European Commission head Jose Manuel Barroso said it 
was highly ambitious and far-reaching.
It will provide new opportunities by increasing market access and be the basis for 
gaining a strong foothold in the North American market and so provide a catalyst for 
growth and the creation of jobs in Europe, Barroso said.
The accord is widely seen as a possible template for EU efforts to conclude a similar 
Transatlantic Trade and Investment Partnership (TTIP) with the United States, touted as 
one of the biggest free-trade agreements ever.
According to EU figures, bilateral trade in goods last year was worth  ($84 billion), with 
Canada the EU's 11th largest trading partner, while the 28-member bloc was Ottawa's 
second most important market after the United States.
Some 99 percent of tariffs on both sides will be removed.

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